THE ROLE OF EDUCATION IN THE ECONOMIC DEVELOPMENT OF PAKISTAN

Abstract

There is a substantial correlation between education, learning environments, and income/productivity levels, according to empirical examination of economies around the world. The human development index (HDI) is frequently cited as one of the most important indices of economic growth and development in a country's national income. Human capital theory views humans as economic companies that contribute to the Total Factor Productivity of the economy through education and learning environments (TFP). Education is the connecting dot between an economy's physical and human resources, and this is critical to its long-term viability. As a result of its beneficial effect on national GDP, education increases the marginal productivity of its workforce. For the services, agricultural, and industrial sectors, Pakistan's education system is vastly divided into three unique learning settings.