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| Titel: |
Does Human Capital Cause Economic Growth? A Case Study of India |
| Auteur: |
Sushil Kumar Haldar Girijasankar Mallik |
| Verschenen in: |
International journal of economic sciences and applied research |
| Paginering: | Jaargang 3 (2010) nr. 1 pagina's 7-25 |
| Jaar: |
2010 |
| Inhoud: |
This study examines the time series behavior of investment in physical capital, human capital(comprising education and health) and output in a co-integration framework, taking growthof primary gross enrolment rate and a dummy for structural adjustment programme (opennesswhich has been initiated in 1991) as exogenous variables in India from 1960 to 2006. Theresults suggest that physical capital investment has no long-run nor short-run effect butthe human capital investment has significant long-run effect on per capita GNP; the stockof human capital measured by primary gross enrolment rate (lagged by three years) andopenness is found to have a significant effect on growth of per capita GNP. The GeneralizedImpulse Response Function confirms that the innovation in per capita GNP growth can onlyexplain the movements of the growth of per capita GNP (itself) and investment in educationhuman capital positively and significantly only for a short period of time but does not explainthe movements of the investment in physical capital and health human capital. Moreover,the innovation in change in education human capital investment significantly and positivelyexplains the movement of the changes in education human capital investment (itself), healthhuman capital investment and growth of GNP per capita; the innovation in health humancapital investment significantly explains the changes of education and health human capitalinvestment only. This study may help towards policy modeling of economic growth in India,taking into account the relevance of endogenous growth. |
| Uitgever: |
Kavala Institute of Technology (provided by DOAJ) |
| Bronbestand: |
Elektronische Wetenschappelijke Tijdschriften |
Details van artikel 2 van 8 gevonden artikelen
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