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Dynamic Relationship between Human Capital and Economic Growth in Sri Lanka: A Co-Integration Analysis

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  • S. Vijesandiran
  • T. Vinayagathasan

Abstract

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.

Suggested Citation

  • S. Vijesandiran & T. Vinayagathasan, 2015. "Dynamic Relationship between Human Capital and Economic Growth in Sri Lanka: A Co-Integration Analysis," Growth, Asian Online Journal Publishing Group, vol. 2(2), pages 20-29.
    • Handle: RePEc:aoj:growth:v:2:y:2015:i:2:p:20-29:id:774
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    Citations

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    Cited by:

    1. Kummer-Noormamode, Sabina, 2018. "The Relationship between Public Debt and Economic Growth: Nonlinearity and Country-Specificity," MPRA Paper 98075, University Library of Munich, Germany.
    2. Ali Sekkach & Nabil Boubrahimi, 2022. "Oil price volatility and GDP for oil-importing countries: Case of Morocco [Volatilité des prix du pétrole et PIB des pays importateurs : Cas du Maroc]," Post-Print hal-03748687, HAL.
    3. Kouton, Jeffrey, 2018. "Education expenditure and economic growth: Some empirical evidence from Côte d’Ivoire," MPRA Paper 88350, University Library of Munich, Germany.
    4. Victoria Kakooza & Robert Wamala & James Wokadala & Thomas Bwire, 2019. "A Causal Model to Compare the Extent of Undergraduates’- Postgraduates’ Impact on Unemployment in Uganda," International Journal of Higher Education, Sciedu Press, vol. 8(5), pages 110-110, October.
    5. Kyriaki Efthalitsidou & Eleni Zafeiriou & Konstantinos Spinthiropoulos & Ioannis Betsas & Nikolaos Sariannidis, 2021. "GDP and Public Expenditure in Education, Health, and Defense. Empirical Research for Greece," Mathematics, MDPI, vol. 9(18), pages 1-17, September.
    6. Sangaran Vijesandiran & Priyatharsiny Selvarasa, 2018. "Effects Of Fiscal Policy On Human Development In Sri Lanka: An Empirical Analysis," Journal of Smart Economic Growth, , vol. 3(3), pages 1-36, December.

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