Role of Human Capital, Industrialization and Trade Openness in Economic Growth in Selected Asian Countries

Abstract

This research focuses on the impact of human capital with industrialization, trade openness and urban population on growth potential of selected Asian countries by using a panel data of eight Asian economies. The dependent variable was used as GDP per capita. The random effect results highlighted that secondary school enrolment has contributed much towards growth. It was also found that industrialization has also augmented growth of the Asian nations. Moreover, trade openness and urban population also seemed to be enhancing economic growth in Asian countries. The findings recommended that nations must allocate more budget towards education sector which will make possible more and free of cost education for the general public. Moreover, economies must focus on more education and more stable economic and political environment for more production and growth in these economies.