Pakistan Economic and Social Review - Lahore


School of Economics, University of the Punjab, Lahore
ISSN (print): 1011-002X
ISSN (online): 2224-4174


  • Naved Ahmad/
  • December 31, 2021
Human Capital Development, Health, Education, Public Infrastructure Expenditures, Institutional Quality, Labor Force and Economic Growth

This paper examines the determinants of human capital development in the SAARC region. This study adopts a modified version of Sen’s (1999) capability approach to resolving the inherent problems of endogeneity and persistence in economic data. This study uses second-generation cross-sectional dependence, slope heterogeneity, and unit root tests. Westerlund’s cointegration test is used to check the cointegration among variables. This study uses the CS-ARDL approach to calculate the long-run estimates. It deals with endogeneity problems and a small-sample bias effectively. The results indicate a positive effect of GDP, labor force participation rate, infrastructure, public health expenditures, public education expenditures, and institutional quality on human capital development in the SAARC region.


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Associate Professor

Faculty of Business, Athabasca University




Assistant Professor

Department of Economics and Development Studies, University of Swat



Naved Ahmad

Course Coordinator (Economics)

Faculty of Business, Athabasca University.




Type: Articles
Volume: 59
Issue: 2
Language: English
Id: 61fcd6fd72029
Published December 31, 2021


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