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Human capital and economic growth in Japan: an application of time series analysis

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  • Benjamin Cheng
  • Robert Hsu

Abstract

The cointegration and causality between human capital and economic growth in Japan is examined by applying Johansen's test of cointegration and Hsiao's version of the Granger causality method to the Japanese data for the period 1952-93. The Phillips-Perron (PP) tests reveal that the original series of GDP is not stationary; therefore, a first differencing is performed. It is found that there is a bidirectional causality between human capital and economic growth. The results basically confirm the hypothesis that an increase in human capital stock exerts positive effects on economic growth and vice versa.

Suggested Citation

  • Benjamin Cheng & Robert Hsu, 1997. "Human capital and economic growth in Japan: an application of time series analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 4(6), pages 393-395.
    • Handle: RePEc:taf:apeclt:v:4:y:1997:i:6:p:393-395
    DOI: 10.1080/135048597355375
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    References listed on IDEAS

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    1. Romer, Paul M., 1990. "Human capital and growth: Theory and evidence," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 32(1), pages 251-286, January.
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    3. J. Andres Faina & J. Lopez-Rodriguez, 2006. "Market access and human capital accumulation: the European Union case," Applied Economics Letters, Taylor & Francis Journals, vol. 13(9), pages 563-567.
    4. Ganegodage, Renuka K. & Taniguchi, Kiyoshi & Wang, Xiaojun, 2003. "Learning by eating: A case study on the cost of hunger in Sri Lanka," ESA Working Papers 289094, Food and Agriculture Organization of the United Nations, Agricultural Development Economics Division (ESA).
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    7. Aras, Osman Nuri & Öztürk, Mustafa, 2017. "The Relationship Between Human Capital and MBA Education: The Case of Turkey," MPRA Paper 81843, University Library of Munich, Germany.
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    9. Georgios Garafas & Ioannis Sotiropoulos & Georgios Georgakopoulos, 2020. "Human Capital and Economic Growth in Greece: Evidence from the Toda–Yamamoto Approach," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 70(3-4), pages 6-11, July-Dece.
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