Human Capital Formation and Economic Growth in Emerging Asia: Empirical Evidence Using Panel Data

Author:

Rehman Muhammad Atiq-ur-,Ghaffar Suleman,Shahzadi Kanwal,Ghazanfar Rabail

Abstract

After the emergence of endogenous growth theory, the role of human capital along with physical capital is considered to be imperative in promoting economic growth. The government social sector spending, mainly on education and health, contributes in forming human capital and promotes economic growth. This study examines the impact of health and education provisions on economic growth of emerging Asian economies, including Bangladesh, China, India, Indonesia, Malaysia, Pakistan, Philippine, and Thailand. Using the data set for 1995-2018, the fixed effects (FE) and the random effect (RE) methods of panel data estimation are employed. Both methods reveal that the health and education support the human capital formation and stimulate economic growth.

Publisher

South Punjab Center for Research and Development (SPCRD)

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1. Human Capital Venture and Financial Development in Thailand: The Part of Instruction and Wellbeing;International Journal of Innovative Science and Research Technology (IJISRT);2024-06-13

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