Human Capital Development and Economic Growth in Bangladesh

Md Niaz Murshed Chowdhury; Mohammed Jashim Uddin; Nezum Uddin; Shamim Uddin

doi:doi:10.11648/j.jwer.20180702.12

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Human Capital Development and Economic Growth in Bangladesh

Md Niaz Murshed Chowdhury, Mohammed Jashim Uddin, Nezum Uddin, Shamim Uddin

Published in Journal of World Economic Research (Volume 7, Issue 2)

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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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

Md Niaz Murshed Chowdhury

Department of Economics, University of Nevada, Reno, USA
Mohammed Jashim Uddin

Department of Economics and Banking, International Islamic University Chittagong, Chittagong, Bangladesh
Nezum Uddin

Department of Economics and Banking, International Islamic University Chittagong, Chittagong, Bangladesh
Shamim Uddin

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

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Plain Text BibTeX RIS

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

Copy | Download

@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  -

Copy | Download