ROLE OF FINANCIAL DEVELOPMENT, HUMAN CAPITAL, TRADE OPENNESS AND ECONOMIC GROWTH IN PAKISTAN

Abstract

This study investigates how Financial Development, Human Capital, and Trade Openness affect Economic Growth in Pakistan from 1999 to 2024. The theoretical and statistical framework has been developed to investigate the results. For this purpose, balanced panel data has been used and analyzed through E-views software by using regression technique. Data was collected from authentic sources such as the World Bank and HDI. The Endogenous Growth Theory were used to explain the purpose of the study. The outcomes reveal that financial development considerably increases economic growth by encouraging investment and increasing access to credit. Human capital, mainly through knowledge and skill improvement, also plays a significant role in fostering efficiency and innovation. Trade openness also show positive and significant effects on economic growth by growing markets and generating revenue. These understandings offer valuable suggestions for decision makers in driving long-term economic growth within the Pakistan.