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Public Debt Stock, Education-Centric Human Capital and Economic Growth in Nepal

Economic Journal of Development Issues

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Title Public Debt Stock, Education-Centric Human Capital and Economic Growth in Nepal
 
Creator Dahal, Madhav Prasad; Patan Multiple Campus, Tribhuvan University
 
Subject Economics
Government debt stock; Gross fixed capital formation; Education; GDP; ARDL; Nepal
 
Description Government borrows from domestic and foreign sources to finance its budget deficit. There are theories and empirical evidence that suggests negative effect of government debt on economic growth. By applying the autoregressive distributive lag (ARDL) approach to co integration on time series data of Nepal spanning over 1975-2014 , this study finds positive and statistically significant effect of total public debt on the GDP of the country. This result contradicts majority of the existing empirical literature. For the positive result we resort to Keynesian view on the effect of public debt in the economy. The total debt-to-GDP ratio of Nepal shows a declining trend. This should have some policy considerations in the conduct of fiscal policy in Nepal. The contribution of education-centric human capital on GDP is found positive as predicted by theory.Economic Journal of Development Issues Vol. 17 & 18 No. 1-2 (2014) Combined Issue, Page: 76-104
 
Publisher Department of Economics Patan Multiple Campus
 
Contributor —
 
Date 2016-02-08
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-Reviewed Article
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Format application/pdf
 
Identifier http://www.nepjol.info/index.php/EJDI/article/view/14522
10.3126/ejdi.v17i1-2.14522
 
Source Economic Journal of Development Issues; Vol 17 & 18 (2014); 76-104
2091-2285
2091-055X
 
Language eng
 
Relation http://www.nepjol.info/index.php/EJDI/article/view/14522/11798
 
Coverage Nepal
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Rights Copyright (c) 2016 Economic Journal of Development Issues