Education and Economic Growth: A Review of Literature; Education and Economic Growth: A Review of Literature
Pada, Itsham ul Haq
Human Capital plays pivotal role for economic growth process. The aim of this paper is to present a brief overview of the studies conducted on the relationship between education and economic growth. Most of the studies are cross-sectional, including developing and developed countries and single country studies are very few in numbers. A general consensus emerges from the review of literature is that there exists a positive relationship between education and economic growth. However in cross section of countries it is assumed that data for each country is same but this assumption become void when studies uses data from opposing conditions of countries. So there is a need for a study on Pakistan that will account fall the impacts of traditional and nontraditional educational systems on economic growth.
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