Abstract
This aims to investigate the influence of human capital on economic
development in Central Asia. For this purpose the study used panel
data over the period 1999 to 2015 for the three Central Asian countries
Kazakhstan, Kyrgyzstan and Tajikistan. The parameter of Gross
Capital Formation is found positive and significant with every proxy of
Human Capital while the parameter of Secondary Education (Pupils)
and Secondary Education, (General Pupils) are positive and significant
and the parameters of Health Expenditure, Secondary Education
(Vocational Pupils) and Education Expenditure are found positive but
insignificant. The study concluded that human capital in all forms
affecting the economic development of Central Asian countries. This
study further concluded that there exist a long run equilibrium among
these variables, which means that all these variables influence
economic development in Central Asia in the long run. The countries of
Central Asia must invest in both physical and human capital, because
both are important for one another as well as for achieving the higher
level of economic development.
Zia Ur Rehman, Muhammad Tariq, Muhammad Azam Khan. (2018) The Role of Human Capital in Economic Development in the Selected Central Asian Countries , The Dialogue, Volume 13, Issue 3.
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