Abstract:
This research is triggered by the need to understand the relationship between economic growth and Millennium Development Goals (MDGs).It is perceived that improvement in MDGs is essential for better standard of living and quality of life. This objective is achieved by estimating an econometric model for selected SAARC and ASEAN countries. The methodology employed in this study is fully modified least square (FMOLS) because of its superiority over OLS estimates in addressing econometric restrictions of panel data analysis. It has been found that countries that have focused in the improvement of gender parity and education related targets have reaped benefits in terms of higher growth. Similarly efforts for information and communication technology are found to be growth promoting. This evidence holds true in both SAARC and ASEAN countries. The implication of this result is that those countries where the emphasis on human capital development is less concerted should dedicate the efforts in the attainment of the selected sub targets in order to adore a worthy standard of living and quality of life.
