Abstract
Nations cannot be developed without investing in education. Education is a multidimensional
process, on one side, it enhances the economic growth and on the other side, it reduces the
poverty by increasing the productivity. Poverty has strong linkages with education and
economic growth. This study utilizes time series data on education, poverty, physical capital
and economic growth for the span of 1971-72 to 2009-10 in case of Pakistan. The results of
ARDL model confirm that both the short-run and long-run affect of physical capital on
economic growth have been found to be positive and significant. Education affects economic
growth positively and significantly only in the long-run. In the long-run, poverty and
economic growth are inversely and significantly related. The results of Toda-Yamamoto
Augmented Granger Causality (TYAGC) Test confirm bi-directional causality between
education and economic growth, between economic growth and poverty and between poverty
and education. Poverty reduction and education enhancing strategies must be adopted to
accelerate the process of economic growth of the country. The study also recommends propoor growth and education in Pakistan.
Muhammad Afzal, Muhammad Ehsan Malik, Ishrat Begum, Kafeel Sarwar, Hina Fatima. (2012) Relationship among Education, Poverty and Economic Growth in Pakistan: An Econometric Analysis, Journal of Elementary Education, Volume-22, Issue-1.
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