The Explanatory Power of Functions of the Variables and One Which Can Influence the National Growth Structure in the Most Effective Way
Since the proper functioning of an economy is dependent upon the efficient operation of the domestic financial sector, so, a crisis-affected financial system of an economy needs to be attended readily. A robust financial sector can bail a nation out of many crucial phases which makes its well-being of prime importance for the administration of the nation. On the other hand, education is another factor which has the capacity to brighten the future prospects of the nation, through educating the national youth and training them with special skills, thus enhancing the quality of human capital. Vocational training which forms a part of secondary education in any nation is an integral source for the creation of employment opportunities for the national youth and thus slashing the unemployment rate in the economy. Apart from vocational training, secondary education also guides the national youth towards a path of better employment opportunities.For a developing nation, both aspects, viz., attending to the shock-stricken financial sector as well as framing policies for the betterment of the domestic education sector, have almost equal significance. The only difference lies in the time span necessary to enjoy the outcomes of their efficient operation. Stabilising the domestic financial sector will have a short-term impact as it can save other segments of the nation from subsiding as well. whereas, augmenting the prospects of the education sector will help to fight back future worries on account of growing unemployment and recessionary trends in the nation. The national youth will be capable enough to take care of their respective futures.Since sponsoring each of the factors will bring significant contributions towards economic growth and development aspects, it is a rather tricky situation that the national authorities have in front of them, given that the resources allotted for investment are limited, viz., US$ 2 million.