What is it about?
The main focus of this study is to examine the long run and short run relationship between factor accumulation (i.e. physical capital, and human capital) and economic growth by calculating stock of human capital and real physical capital.
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Why is it important?
This study challenges the notion of human capital and real physical capital stock used by different researchers. Considering human capital as a core factor of production, a series of human capital as average year of schooling is calculated by utilizing the perpetual inventory method.
Perspectives
Developing countries like Pakistan should increase share of human capital for economic development. Government should invest on education sector because investment in human capital has large potential of productivity growth and welfare increase in developing countries.
Dr Kashif Munir
Al Qasimia University
Read the Original
This page is a summary of: Factor accumulation and economic growth in Pakistan: incorporating human capital, International Journal of Social Economics, March 2018, Emerald,
DOI: 10.1108/ijse-12-2016-0346.
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