Shanti Joshi
Every nation has its own education system. Investment in quality education is the foundation for economic development. It helps to produce human capital. And, it is an active factor that mobilizes other factors (physical, natural, technological). Thanks to globalization, a student from any nation can gain higher education worldwide.
The number of students receving No Objection Certificate (NOC) in Nepal is increasing. Over 62000 students have received NOC till May 24 which is almost double in FY 2015-16, 32,489. This means more students are going abroad for further studies. Nepali students choose Australia, America, Japan, China, and the USA for higher studies.
Is foreign studies a good indicator for the sustainable economic prosperity?
Education level is an indicator for the economic development of the country. Educated citizens lead the nation to the path of economic prosperity.
Nepali students leaveing abroad for education take their capital too. This wealth is often an investment for the country.
But, after the completion of their higher education, it is unsure whether they return or not. Moreover, Nepal should create a robust plan and policies to motivate Nepali students to return. Then finally they will become assets for the country otherwise become liabilities for Nepal.
The Endogenous Growth Model states that a country can develop if it has made an investment in human capital formation, research, and development.
It also explains that the quality of human resources reflects in the productivity and economic growth. There is a positive spillover effect of knowledge which helps to improve the efficiency of the economy in long- run.
From my perspective students going abroad doesn’t reflect negative light. But, the qualified students must return home for the development of the country.
Many professors say that ‘mobility of students’ is positive. It provides an opportunity to get out, and learn new skills. Foreign education will also help students to think in a new way. But they must return to the country after completion of their higher education.
Nepalis must use their skills, knowledge, and abilities to develop the nation. It is a bad situation if students are leaving Nepal due to lack of trust in Nepali education.
Investment in education is the foundation for the development of the country. The country should provide a budget to the education sector. The government should focus in producing qualified, skillful human capital. This will help Nepal in achieving economic prosperity in the long run.
Nepal faces a shortage of human capital. And, Nepali youths are leaving the country for foreign employment. The country is unable to balance between demand and supply of human resources.
In fact, the country doesn’t have any national level human resource department. It is almost impossible to handle the availability of human capital in the country.
There is a high risk if Nepali student goes abroad at a younger age, and stay in foreign land forever. So, the country should create a suitable environment for them. And attract to return and use them as assets for the development of the nation.
