Long Run Relationship and Causality between Education and Economic Growth in Bangladesh
Journal Title: Journal of Empirical Economics - Year 2015, Vol 4, Issue 6
Abstract
This paper focuses on the long-run relationship and causality between government expenditure in education and economic growth in Bangladesh for the period 1973 to 2009 through the application of Johansen Cointegration technique and Vector Error Correction Methodology and causality is tested through Granger Causality approach. The Johansen Cointegration result establishes a long run relationship between education and economic growth. With regard to the Granger causality relationship, the result confirms the unidirectional causality running from GDP to education expenditure. On the basis of the findings of the study, it is recommended that, if government policy is going to substantially increase growth, then investing in education is one of the pro-growth policies for promoting economic growth.
Authors and Affiliations
Kazi Mostafa Arif, Munshi Murtoza Ali, Md. Alamgir Hossain Bhuiya
Keywords
Related Articles
- EP ID EP27417
- DOI -
- Views 332
- Downloads 10
Decentralized Governance from the Perspective of Internally Generated Revenue for Local Development Finance: Analysis and Practice
The local governance in Ghana has been practised using different models over the years. These models were introduced by the colonial government which was highly centralised. The dynamics of local government in Ghana ch...
Nigeria’s Human Development Indices and on Economic Development: a Probability Distribution Approach.
This work investigated the implications of HDI data (2005 – 2013) on economic development in Nigeria using a probability distribution approach. Three probability distributions, namely, Generalized Extreme Value (GEV) D...
A Comparative Approach of Competitiveness of Iranian Banking Sector
The aim of this paper is present a comparative approach of competitiveness condition in the banking system of Iran by use of two different New Empirical Industrial Organization (NEIO) approaches (Panzar-Rosse and Hall-R...
Natural Resources and Economic Growth in Cote D’ivoire
This paper investigated the relationship between long run economic growth in Cote d‟Ivoire and natural resource abundance based on time series econometric techniques other the period of 1960-2012. To assess the nexus b...
On The Determinants of Credit Crunch in Italy: An Empirical Analysis on the Reasons Underlying This Phenomenon
The purpose of this paper is to investigate whether a credit crunch occurred in Italy during the recent financial crisis and to analyze the underlying factors. In order to disentangle credit supply and demand we specif...