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Time series evidence on education and growth: the case of Guatemala, 1951-2002

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  • Josef L. Loening

    (World Bank and University of Goettingen)

Abstract

This article investigates the impact of education on economic growth in Guatemala for the 1951-2002 period. An error-correction model shows that a better-educated labor force has a positive and significant impact on economic growth. A growth-accounting framework demonstrates that human capital explains about 50 percent of output growth. The findings are robust to changes to the conditioning set of variable, while controlling for data issues and endogeneity. The results also compare favorably with the microeconomic evidence.

Suggested Citation

  • Josef L. Loening, 2004. "Time series evidence on education and growth: the case of Guatemala, 1951-2002," Revista de Analisis Economico – Economic Analysis Review, Universidad Alberto Hurtado/School of Economics and Business, vol. 19(2), pages 3-40, December.
    • Handle: RePEc:ila:anaeco:v:19:y:2004:i:2:p:3-40
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    Cited by:

    1. Lenkei, Balint & Mustafa, Ghulam & Vecchi, Michela, 2018. "Growth in emerging economies: Is there a role for education?," Economic Modelling, Elsevier, vol. 73(C), pages 240-253.
    2. Loening, Josef & Rao, B. Bhaskara & Singh, Rup, 2010. "Effects of schooling levels on economic growth: time-series evidence from Guatemala," MPRA Paper 25105, University Library of Munich, Germany, revised 16 Sep 2010.
    3. Jayasooriya, Sujith, 2020. "Revised Macro-Mincer Model for Human Capital Investment in Economic Growth," MPRA Paper 100747, University Library of Munich, Germany.
    4. Raifu, Sisiaka Akande & Nnadozie, Obianuju Ogochukwu & Opeloyeru, Olaide Sekinat, 2021. "The Mediating Role of Institutional Quality in Human Capital-Economic Growth Nexus in Nigeria: Evidence from Aggregate and Gender Perspective," Journal of Economic Development, The Economic Research Institute, Chung-Ang University, vol. 46(4), pages 157-188, December.

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    More about this item

    Keywords

    Education; Economic Growth; Econometrics; Guatemala.;
    All these keywords.

    JEL classification:

    • I20 - Health, Education, and Welfare - - Education - - - General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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