IDEAS home Printed from https://ideas.repec.org/a/eco/journ1/2019-02-8.html

The Relationship Economic Complexity and Education Expenditure: A Empricial Analysis on South Korea

Author

Listed:
  • nz le Kurt

    (Departmant of Banking and Finance, Canakkale Onsekiz Mart University, Turkey)

Abstract

South Korea exhibited a noteworthy economic performance with development policies it carried out in 1962. The resources of this economic leap have been widely the subject of researches in the literature. It has been taken as an sample experience especially in the development projections of developing ccountries. This country, which was in a poor country position by 1960s has managed to get to developed country position within the period of 50 years. The relevant studies have shown that the sources of South Korean economic growth and development are the importance attached to education, innovation and R&D studies and development plans including structural changes in these areas. The production of products with high value added and having multinational companies producing these products, which is one of the most important sources which provide for developed countries to have a competitive advantage in the world economy, was considered significant for South Korean economic growth and development in the present study. In this context, the effects of expenditures for higher education on industrial production through the production of products with high value added was investigated. It was found as a result of this empirical study, in which Johenson cointegration analysis and VECM model and Granger casualty methods were used, covered 1970-2015 period that educational expenditures has increased industrial production through econpmical complexity.

Suggested Citation

  • nz le Kurt, 2019. "The Relationship Economic Complexity and Education Expenditure: A Empricial Analysis on South Korea," International Journal of Economics and Financial Issues, International Journal of Economics and Financial Issues, vol. 9(2), pages 73-79.
    • Handle: RePEc:eco:journ1:2019-02-8
    as

    Download full text from publisher

    File URL: https://www.econjournals.com/index.php/ijefi/article/download/7422/pdf
    Download Restriction: no
    File URL: https://www.econjournals.com/index.php/ijefi/article/view/7422/pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    3. Gene M. Grossman & Elhanan Helpman, 1991. "Quality Ladders in the Theory of Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(1), pages 43-61.
    4. Rebelo, Sergio, 1991. "Long-Run Policy Analysis and Long-Run Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 500-521, June.
    5. Susan M. Collins & Won Am Park, 1988. "External Debt and Macroeconomic Performance in South Korea," NBER Working Papers 2596, National Bureau of Economic Research, Inc.
    6. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Adriana Di Liberto, 2007. "Convergence and Divergence in Neoclassical Growth Models with Human Capital," Economia politica, Società editrice il Mulino, issue 2, pages 289-322.
    2. Helpman, Elhanan, 1992. "Endogenous macroeconomic growth theory," European Economic Review, Elsevier, vol. 36(2-3), pages 237-267, April.
    3. Leitão, Nuno Carlos, 2012. "The impact of trade on economic growth," MPRA Paper 37425, University Library of Munich, Germany.
    4. Ekaterina Ponomareva & Alexandra Bozhechkova & Alexandr Knobel, 2012. "Factors of Economic Growth," Published Papers 172, Gaidar Institute for Economic Policy, revised 2013.
    5. Kar Muhsin & Peker Osman & Kaplan Muhittin, 2008. "Trade Liberalization, Financial Development and Economic Growth in The Long Term: The Case of Turkey," South East European Journal of Economics and Business, Paradigm, vol. 3(2), pages 25-38, November.
    6. Andrew Bernard & Márcio Gomes Pinto Garcia, 1997. "Public and private provision of infrastructure and economic development," Textos para discussão 375, Department of Economics PUC-Rio (Brazil).
    7. Claudio Candia & Medardo Aguirre & Natalia Correa & María J. Herrera, 2016. "La productividad total de factores en el sector manufacturero chileno," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 18(35), pages 229-255, July-Dece.
    8. Jung-Suk Yu & M. Kabir Hassan & Abdullah Mamun & Abul Hassan, 2014. "Financial Sectors Reform and Economic Growth in Morocco: An Empirical Analysis," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 13(1), pages 69-102, April.
    9. Iamsiraroj, Sasi, 2016. "The foreign direct investment–economic growth nexus," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 116-133.
    10. Charles R. Hulten & Robert M. Schwab, 1993. "Endogenous Growth, Public Capital, and the Convergence of Regional Manufacturing Industries," NBER Working Papers 4538, National Bureau of Economic Research, Inc.
    11. Duranton, Gilles & Puga, Diego, 2014. "The Growth of Cities," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 2, chapter 5, pages 781-853, Elsevier.
    12. Ayhan KULOĞLU & Eyyup ECEVİT, 2017. "The Relationship Between Health Development Index And Financial Development Index: Evidence From High Income Countries," Journal of Research in Economics, Politics & Finance, Ersan ERSOY, vol. 2(2), pages 83-95.
    13. repec:ebl:ecbull:v:2:y:2002:i:1:p:1-15 is not listed on IDEAS
    14. Chen, Binkai & Lin, Justin Yifu, 2021. "Development strategy, resource misallocation and economic performance," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 612-634.
    15. Maurer, Rainer, 1995. "Is economic growth a random walk?," Kiel Working Papers 677, Kiel Institute for the World Economy.
    16. Gene M. Grossman & Elhanan Helpman, 1994. "Endogenous Innovation in the Theory of Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 23-44, Winter.
    17. Bakari, Sayef, 2017. "Why is South Africa Still a Developing Country?," MPRA Paper 80763, University Library of Munich, Germany.
    18. Antonio Ciccone & Giovanni Peri, "undated". "Human Capital and Externalities in Cities," Working Papers 172, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    19. Capolupo, Rosa, 2009. "The New Growth Theories and Their Empirics after Twenty Years," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy, vol. 3, pages 1-72.
    20. Thomas M. Steger, 2000. "Productive Consumption and Growth in Developing Countries," Review of Development Economics, Wiley Blackwell, vol. 4(3), pages 365-375, October.
    21. Danyang Xie, 2000. "Power Risk Aversion Utility Functions," Annals of Economics and Finance, Society for AEF, vol. 1(2), pages 265-282, November.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
    • I2 - Health, Education, and Welfare - - Education

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ1:2019-02-8. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Monica Sinhat (email available below). General contact details of provider: https://econjournals.com/index.php/ijefi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.