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Human Capital Development and Economic Growth in Bangladesh

Received: 20 January 2018     Accepted: 19 May 2018     Published: 11 June 2018
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Abstract

Human Capital is an integral part of any country’s development and economic growth has human capital as an important factor. This study empirically evaluates the relevance of human capital development on the growth of the economy pin pointing the relationship that exists between them. In this study, unit root test, Johansson co integration test and ordinary least square (OLS) technique are done. The GDP per capita was used as a proxy for economic growth; Per Capital Gross Domestic Product, primary school enrolment, Secondary school enrollment, tertiary school enrollment, public expenditure on education and health, life expectancy, gross capital formation. From the analysis, it was deduced that there is a strong positive relationship between human capital development and economic growth. Life expectancy is found to be most important variable in this model as it has large impact on economic growth in Bangladesh. Recent time tertiary education has significantly affected the economic growth instead of secondary education. Workable policies should be put in place to bring about an overall economic growth. Expenditures on health and public education should be utilized effectively and efficiently so that the country would experience quality health care services and quality educational system.

Published in Journal of World Economic Research (Volume 7, Issue 2)
DOI 10.11648/j.jwer.20180702.12
Page(s) 52-63
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2018. Published by Science Publishing Group

Keywords

Human Capital, GDP, Economic Growth, Ordinary Least Squares, Johansson Co-integration, Unit Root Test

References
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Cite This Article
  • APA Style

    Md Niaz Murshed Chowdhury, Mohammed Jashim Uddin, Nezum Uddin, Shamim Uddin. (2018). Human Capital Development and Economic Growth in Bangladesh. Journal of World Economic Research, 7(2), 52-63. https://doi.org/10.11648/j.jwer.20180702.12

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    ACS Style

    Md Niaz Murshed Chowdhury; Mohammed Jashim Uddin; Nezum Uddin; Shamim Uddin. Human Capital Development and Economic Growth in Bangladesh. J. World Econ. Res. 2018, 7(2), 52-63. doi: 10.11648/j.jwer.20180702.12

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    AMA Style

    Md Niaz Murshed Chowdhury, Mohammed Jashim Uddin, Nezum Uddin, Shamim Uddin. Human Capital Development and Economic Growth in Bangladesh. J World Econ Res. 2018;7(2):52-63. doi: 10.11648/j.jwer.20180702.12

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  • @article{10.11648/j.jwer.20180702.12,
      author = {Md Niaz Murshed Chowdhury and Mohammed Jashim Uddin and Nezum Uddin and Shamim Uddin},
      title = {Human Capital Development and Economic Growth in Bangladesh},
      journal = {Journal of World Economic Research},
      volume = {7},
      number = {2},
      pages = {52-63},
      doi = {10.11648/j.jwer.20180702.12},
      url = {https://doi.org/10.11648/j.jwer.20180702.12},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20180702.12},
      abstract = {Human Capital is an integral part of any country’s development and economic growth has human capital as an important factor. This study empirically evaluates the relevance of human capital development on the growth of the economy pin pointing the relationship that exists between them. In this study, unit root test, Johansson co integration test and ordinary least square (OLS) technique are done. The GDP per capita was used as a proxy for economic growth; Per Capital Gross Domestic Product, primary school enrolment, Secondary school enrollment, tertiary school enrollment, public expenditure on education and health, life expectancy, gross capital formation. From the analysis, it was deduced that there is a strong positive relationship between human capital development and economic growth. Life expectancy is found to be most important variable in this model as it has large impact on economic growth in Bangladesh. Recent time tertiary education has significantly affected the economic growth instead of secondary education. Workable policies should be put in place to bring about an overall economic growth. Expenditures on health and public education should be utilized effectively and efficiently so that the country would experience quality health care services and quality educational system.},
     year = {2018}
    }
    

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  • TY  - JOUR
    T1  - Human Capital Development and Economic Growth in Bangladesh
    AU  - Md Niaz Murshed Chowdhury
    AU  - Mohammed Jashim Uddin
    AU  - Nezum Uddin
    AU  - Shamim Uddin
    Y1  - 2018/06/11
    PY  - 2018
    N1  - https://doi.org/10.11648/j.jwer.20180702.12
    DO  - 10.11648/j.jwer.20180702.12
    T2  - Journal of World Economic Research
    JF  - Journal of World Economic Research
    JO  - Journal of World Economic Research
    SP  - 52
    EP  - 63
    PB  - Science Publishing Group
    SN  - 2328-7748
    UR  - https://doi.org/10.11648/j.jwer.20180702.12
    AB  - Human Capital is an integral part of any country’s development and economic growth has human capital as an important factor. This study empirically evaluates the relevance of human capital development on the growth of the economy pin pointing the relationship that exists between them. In this study, unit root test, Johansson co integration test and ordinary least square (OLS) technique are done. The GDP per capita was used as a proxy for economic growth; Per Capital Gross Domestic Product, primary school enrolment, Secondary school enrollment, tertiary school enrollment, public expenditure on education and health, life expectancy, gross capital formation. From the analysis, it was deduced that there is a strong positive relationship between human capital development and economic growth. Life expectancy is found to be most important variable in this model as it has large impact on economic growth in Bangladesh. Recent time tertiary education has significantly affected the economic growth instead of secondary education. Workable policies should be put in place to bring about an overall economic growth. Expenditures on health and public education should be utilized effectively and efficiently so that the country would experience quality health care services and quality educational system.
    VL  - 7
    IS  - 2
    ER  - 

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Author Information
  • Department of Economics, University of Nevada, Reno, USA

  • Department of Economics and Banking, International Islamic University Chittagong, Chittagong, Bangladesh

  • Department of Economics and Banking, International Islamic University Chittagong, Chittagong, Bangladesh

  • Economic Research, the Central Bank of Bangladesh, Dhaka, Bangladesh

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