HEALTH, EDUCATION AND ECONOMIC GROWTH: TESTING FOR LONG-RUN RELATIONSHIPS AND CAUSAL LINKS in the United States
AbstractThis paper examines the causal relationships between human capital (Education, and Health) and Economic growth for the USA using time series approach for the period 1929-1997. We find cointegration between the variables under study. The EC-VAR investigations show bi-directional causality between Education and Health. Causality also exists from Education to Economic growth. On the other hand, causality is found between Health and Economic growth and not the reverse. We therefore perform variance decomposition and impulse response functions to see the importance of the impacts among these variables. The results show that the long-run dynamics of growth are slightly explained by past health and education level, and the health level account for 10% of the evolution of education in the long run.
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Bibliographic InfoArticle provided by Euro-American Association of Economic Development in its journal Applied Econometrics and International Development.
Volume (Year): 8 (2008)
Issue (Month): 2 ()
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Web page: http://www.usc.es/economet/eaa.htm
Find related papers by JEL classification:
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- I1 - Health, Education, and Welfare - - Health
- I2 - Health, Education, and Welfare - - Education
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