Investing in Education and Social Services Key to Pakistan's Economic Growth.
The article examines how government spending in Pakistan affects economic growth. By analyzing data from 1976 to 2015, the researchers found that investing in social, economic, and education services can lead to long-term economic growth. Some types of government spending, like current subsidies and defense, tend to follow economic growth, supporting Wagner's theory. However, spending on social services shows a causal relationship with economic growth, supporting Keynesian theory. Overall, the findings suggest that investing in social, economic, and education services can help Pakistan achieve sustainable economic growth by developing its human resources.