The nexus between higher education and economic growth: An empirical investigation for Pakistan

The study investigates the role of higher education in economic growth for Pakistan between 1972 and 2005 using the application of Johansen Cointegration and Toda & Yamamoto (1995) Causality approach in Vector Autoregressive (VAR) framework. It examines whether higher education affect long run e...

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Veröffentlicht in:Pakistan journal of commerce and social sciences 2009, Vol.3, p.1-9
Hauptverfasser: Chaudhary, Amatul R, Iqbal, Asim, Gillani, Syed Yasir Mahmood
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Sprache:eng
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Zusammenfassung:The study investigates the role of higher education in economic growth for Pakistan between 1972 and 2005 using the application of Johansen Cointegration and Toda & Yamamoto (1995) Causality approach in Vector Autoregressive (VAR) framework. It examines whether higher education affect long run economic growth in Pakistan. The empirical analysis reveals that there is a long run relationship between economic growth and higher education, which suggests that these variables are necessary for each other. The empirical results of causality test indicate that there exists a unidirectional causality running from economic growth to higher education and no other direction of causality found between these variables.
ISSN:2309-8619
2309-8619