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Dynamic Relationship between Human Capital and Economic Growth in Sri Lanka: A Co-Integration Analysis
Growth
View Archive Info| Field | Value | |
| Title |
Dynamic Relationship between Human Capital and Economic Growth in Sri Lanka: A Co-Integration Analysis
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| Creator |
Vijesandiran, S.
Vinayagathasan, T. |
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| Description |
Annual data from Sri Lanka was used to analyze dynamic linkage between human capital and economic growth rate. ADF, PP, and Ng-Perron unit root tests confirmed that all the series that has been included in the model are stationary at first difference. Co-integration test identified one co-integrating vector, suggesting long-run relationship between the variables. Both co-integration and VECM test revealed a positive long-run relationship between health index and per capita GDP. We also found the long-run equilibrium of the model for the real per capita GDP, real capital expenditure on human capital and real labor expenditure on human capital. The results of VECM suggested a short-term relationship between per capita GDP and health care, education level and per capita income and health care and education.
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| Publisher |
Asian Online Journal Publishing Group
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| Date |
2015-12-01
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://www.asianonlinejournals.com/index.php/Growth/article/view/774
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| Source |
Growth; Vol 2 No 2 (2015); 20-29
2412-2068 2518-0185 |
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| Language |
eng
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| Relation |
http://www.asianonlinejournals.com/index.php/Growth/article/view/774/802
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