A Study On The Impact Of Economic Globalization And Economic Growth On Human Development In Pakistan

This study examines the impact of economic globalization and economic growth on human development in Pakistan.The study have HDI as dependent variable and three independent variables(KOFGI,GDP per capita,and inflation).The KOF globalization index(KOFGI)was used as a proxy variable for economic globalization,GDP per capita as a proxy variable for economic growth,and the Human Development Index(HDI)for human development.The author use Time Series data from 1991 to 2020 and conducted a statistical analysis of these variables to determine their relationships and impacts on human development in Pakistan.The result demonstrate that high R-squared value of 0.994061 indicates that approximately 99.41% of the variation in HDI can be explained by the independent variables(Inflation CPI,GDP per capita US,and KOFGI).The significant F-statistic of 1450.597(pvalue: 4.77e-29)confirms the strong and statistically significant relationship between these variables and HDI.Dizon et al.(2021)and ADIQAKIANI et al.(2020)also find a positive and significant impact of economic globalization on Human Development.Similarly,Khan and Ju(2019)claim a positive effect of economic growth on human development.However,changes in inflation rates do not significantly affect overall human development.The study suggests specific policies to improve socio-economic conditions,including a National Human Development Strategy,programs for education and healthcare enhancement,promotion of entrepreneurship and renewable energy,investments in digital infrastructure,public-private partnerships,climate change resilience,financial inclusion,and measures to combat corruption.Implementing these policies can contribute to Pakistan’s human development,economic growth,and sustainable practices.