Human Capital, Capital Stock Formation, and Economic Growth: A Panel Granger Causality Analysis
Journal: Journal of Economics and Business (Vol.3, No. 2)Publication Date: 2020-06-30
Authors : Ejiro U. Osiobe;
Page : 569-582
Keywords : Unit Root; Panel Cointegration; Granger Causality; Human Capital; Latin American Countries; Educational Investment; Sustainable Economic Growth;
- Human Capital, Capital Stock Formation, and Economic Growth: A Panel Granger Causality Analysis
- Economic Growth and Human Capital in South Asian Countries: A Static Panel Evidence
- The granger causality analysis of energy consumption and economic growth
- The human capital rationale behind the economic growth of the European Union countries: application of the advanced methods to enhance an efficiency of national human capital stocks
- Human Capital, Social Capital and Economic Growth
Abstract
Fostering educational practices, increasing enrollments rate, and improving learning is a central part of most economic development strategies. Most economists from the 20th and early 21st century see the idea of increasing the public's aggregate per capita investment in human capital as a controversial topic; because the expansion of education has not guaranteed improved economic conditions in some regions. The variables used in the study include 14 Latin American countries that have been analyzed, and the results show a strong causal relationship between real gross domestic product per capita–purchasing power parity and human capital. Although the study doesn't find a direct Granger causal relationship moving from human capital to real gross domestic product per capita-purchasing power parity, there is an indirect Granger causal relationship between our variables of interest. The association can be found in the bidirectional Granger causal relationship between human capital and trade balance.
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