Abstract
The centrality of both education and health sectors to derive a county toward prosperity was the motivation to investigate the impact of both government education expenditures and health expenditures on GDP/economic growth rate in Pakistan. The data on modeled variables, GDP growth rate, population, Inflation, private health expenditures, government health expenditures, and government education expenditures, were taken from the World Development Indicators (WDI) and economic survey of Pakistan from 1998 to 2018. The Unit Root Test showed all the modeled variables stationary at level, so ordinary least squares technique was utilized to attain the objectives of the study. The outcomes of the study showed that impact of both government education expenditures and health expenditures on GDP/economic growth rate turned out to be statistically significant and positive. Whereas the impact of private health expenditures, population, and inflation on GDP/economic growth rate was found statistically non-significant. It was suggested to public policymakers to allocate more resources to both the education and health sectors to meet the goal of high economic growth in the country.
Keyword(s)
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