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Time Series Evidence On Education And Economic Growth In Indonesia

Author

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  • Rahmatina A. Kasri

Abstract

This paper analyzes the main sources of economic growth in Indonesia with emphasizes on education role in fostering the growth during the New Order Government. To arrive at conclusive results, it employs rigorous econometric techniques and Error Correction Models that consider structural adjustments in the economy. The study finds that physical capital and secondary education, particularly through the Universal Secondary Education Program, give the highest contribution to economic growth. It is also suggested that the negative effect of primary education on the long-run growth is mainly due to over-supply and excess-demand for the graduates following the structural changes in the economy. Keywords: Education, human capital, economic growth, error correction model JEL classification numbers: I25, O15, O43, O53, C22

Suggested Citation

  • Rahmatina A. Kasri, 2011. "Time Series Evidence On Education And Economic Growth In Indonesia," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 3(2), pages 109-123.
    • Handle: RePEc:uii:journl:v:3:y:2011:i:2:p:109-123:id:2324
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    File URL: https://journal.uii.ac.id/JEP/article/view/2324/2123
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    More about this item

    Keywords

    education; human capital; economic growth; error correction model jel classification numbers: i25; o15; o43; o53; c22;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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