AN EMPIRICAL INVESTIGATION OF THE EFFECTS OF BRAIN DRAIN ON ECONOMIC GROWTH IN PAKISTAN, WITH THEORETICAL CONTEXT OF LABOUR LAWS

Abstract

This research work exploring the aspects which are responsible for Pakistan's brain drain. From 1997 to 2022, I looked at annual data for my research. The study employed different statistical methods like looking at simple summaries of the data, checking for multi-collinearity through the VIF, running serial correlation tests, Breusch-Pagan-Godfrey test, The OLS method to come up with the results that indicate Migration and remittances both help Pakistan’s GDP increase in a good and noticeable way. On the other hand, the terrorism, inflation as well as unemployment have a bad effect on the Pakistan's GDP. In addition, GFCF does not bring any change to Pakistan’s economy. The current study suggests that since people in Pakistan don’t have many chances to move up their careers, a large number of them have decided to leave the country for better opportunities. Additionally, our economy doesn’t have enough jobs for all the skilled workers and government should pay attention to make laws in favor to stop the brain drain.