Education expenditure and economic growth: Some empirical evidence from the GCC countries

This paper examines the nature and direction of the relationship between education expenditure as a proxy for human capital and economic growth in the six GCC economies using time-series data for the period 1977-2004. The analysis employs a Granger-causality test within an error-correction framework...

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Bibliographic Details
Published in:The Journal of developing areas 2008-10, Vol.42 (1), p.69-80
Main Author: Yousif, Yousif Khalifa Al
Format: Article
Language:English
Subjects:
Arabische Staaten
Bildungsinvestition
Causality
Developing areas
Development studies
Economic conditions
Economic development
Economic growth
Economic growth models
Economic growth theories
Economic policy
Economics of education
Education
Education expenditures
Education expenses
Empirical research
Enrollments
Erdöl
Expenditures
GDP
Golfstaaten
Gross Domestic Product
Gulf Cooperation Council
Human capital
Humankapital
Investition
Kooperation
Long run economic growth
Longitudinal studies
Null hypothesis
Per capita
Production functions
Public expenditure
Studies
Time series
Wirtschaftswachstum
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Summary:This paper examines the nature and direction of the relationship between education expenditure as a proxy for human capital and economic growth in the six GCC economies using time-series data for the period 1977-2004. The analysis employs a Granger-causality test within an error-correction framework. The empirical results are mixed and vary across both countries and measures of human capital. The implications of the results are two fold. First, to deepen our understanding of the complex relationship between education and economic growth, additional studies need to be conducted on the issues at hand with a special focus on countries that are similar in their policy and institutional environment using time-series data. Second, empirical results in this area can be more insightful if researchers could develop more accurate measures of human capital than the existing ones.
ISSN:0022-037X
1548-2278
1548-2278
DOI:10.1353/jda.0.0025