Social Spending and Economic Growth: The Case of Pakistan
Abstract
Using the annual data of Pakistan's economy from 1975 to 2018, this paper explores the channels linking social spending and economic growth. With separate modeling for education and health capital, the paper finds that health spending has a statistically significant and negative impact on the mortality rate which infers that health improvement in Pakistan is dependent on the volume of health expenditures. Also, educational spending has a statistically significant and positive impact on the educational level. Last model report that health and education capitals have a positive association with the economic growth of the country. Overall findings have made a great advance in the existing literature on how health and education capitals can play a vital role in boosting the economic growth of the country.
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Copyright (c) 2022 Muhammad Raza, Muhammad Awais, Muhammad Zeeshan Younas
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