Education and Economic Growth
An Empirical Analysis for Colombia (1994-2018)
DOI:
https://doi.org/10.15765/pnrm.v15i29.3121Keywords:
education, economic growth, gross domestic product, public expenditure on education, literacy rate, causality, cointegrationAbstract
The objective of the article is to analyze the relationship between education defined as Human Capital and Economic Growth in Colombia through the use of time series data between 1994 and 2018. Therefore, an Error Correction Vector (VEC) model is estimated having as variables the Gross Domestic Product (GDP) in logarithm, public spending on education and the literacy rate, the verification of model assumptions is also applied and causality tests and impulse response function are analyzed to determine the changes of variables to innovations of another. Both public spending on education and the literacy rate were found to have a significant impact on GDP; In addition, the causality test shows that there is a one-way relationship between public spending on education and the literacy rate and economic growth.
Downloads
References
Aghion, P., Howitt, P., & Murtin, F. (2010). e Relationship Between Health
and Growth: When Lucas Meets Nelson-Phelps. NBER Working Paper
National Bureau of Economic Research.
Becker, G. (1983). Human Capital. Alianz.
María Alejandra Arguello Medina, et al. EDUCACIÓN Y CRECIMIENTO ECONÓMICO: UN ANÁLISIS EMPÍRICO PARA
COLOMBIA (1994-2018)
PDF generado a partir de XML-JATS4R por Redalyc
Proyecto académico sin fines de lucro, desarrollado bajo la iniciativa de acceso abierto
Bils, M., & Klenow, P. (2000). Does Schooling Cause Growth? e American
Economic Review, 90(5), 1160-1183.
Casares, E., & Kelly, R. (2018). El modelo de Solow ampliado con tasas de
inversión endógenas. Revista analisis economico.
Cotte, A., & Cotrino, J. (2006). Crecimiento Económico y Distribución del
Ingreso en Colombia: evidencia sobre el capital humano y el nivel de
educación. Revista Javeriana, 337-356.
Cuenca, M., & Penagos, I. (2014). Crecimiento económico en Colombia: una
aproximación empírica fundamentada en la perspectiva capital humano
(1960-2009). Scielo, 33(58), 11-44.
Dickey, D., & Fuller , W. (1979). Distribution of the estimators for
autoregressive time series with a unit root. Journal of the American
Statistical Association, 74(366), 427-431.
Gennaioli, N., La Porta, R., López de Silanes, F., & Shleifer, A. (2013). Human
capital and regional development. Quartely Journal of Economics, 10,
-164.
Granger, C. (1969). Investigating causal relations by econometric models and
cross-spectral methods. Econometrica, 7(3), 424-438.
Guarnizo, S. (2018). Relación entre capital humano y crecimiento económico
de Colombia. Revista Económica, 4(1).
Jinli, Z., & Zhang, J. (2022). Education polices and development with thershold
human capital externalities. Economic modelling, 8.
Krueger, A., & Lindahl, M. (2001). Education for growth: Why and for whom?
Journal of Economic Literature, 39, 1101-1136.
Lucas, R. (2009.). Ideas and growth. Economica, 76, 1-19.
Mankiw, G., Romer, P., & Weil, D. (1992). A Contribution to the Empirics of
Economic Growth. Quarterly Journal of Economics, 107, 407-437.
Manuelli, R., & Seshadri, A. (2014). Human Capital and the Wealth of Nations.
American Economic Review, 104, 726-762.
Martínez, G. (2020). La educación y el desarrollo económico: Factores de calidad
educativa en la Unidad Educativa. Quito, Ecuador.
Mincer, J. (1974). Schooling, experience and earnings. Columbia University
Press.
Monterubbianesi, P., Rojas, M., & Dabús, C. (2021). Education and health:
Evidence of threshold effects on economic growth. Lecturas de economía,
(94), 220.
Pardo, N., & Celis, J. (2019). Capital humano.
Parodi, C. (2018). Importancia del Crecimiento Económico. Universidad del
Pacífico.
Perdomo, G. (2018). Impacto del Capital Humano en el Crecimiento Económico
de Colombia: Evidencia para el periodo 1970 – 2014. Repositorio de la
Universidad Católica.
Ríos, M. (2007). El crecimiento endogeno a partir de las externalidades del
capital humano. Cuadernos de Economía, 26(46), 51-73.
Romer, P. (1989). Human capital and growth: eory and evidence.
Samuelson, P. (2006). Economía. Mcgraw-Hill.
Shapiro, J. (2006). Quality of Life, Productivity and the Growth Effects of
Human Capital. Review of Economics and Statistics, 88, 324-335.
PDF generado a partir de XML-JATS4R por Redalyc
Proyecto académico sin fines de lucro, desarrollado bajo la iniciativa de acceso abierto
Sims, C. (1980). Macroeconomics and reality. Econometrica.
Stiglitz, J. E. (2000). Economics of the public sector. In A. Bosch. Alcalá: Colombia
University.
Turow, L. (1978). Educación e Igualdad Económica. Sociedad y Economía.
Uzawa, H. (1965). Optimal Technical Change in an Aggregative Model of
Economic Growth. International Economic Review, 6(1), 18-31.
Vergara, R. (1997). Lucas y el crecimiento económico. Centro de Estudios
Públicos, 66.
Published
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
Panorama by Institución Universitaria Politécnico Grancolombiano is licensed under a Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 Unported License.
How to Cite
