IDEAS home Printed from https://ideas.repec.org/a/ers/ijebaa/vixy2021i1p136-158.html
   My bibliography  Save this article

Effect of Fiscal Policy on Human Capital in Thailand

Author

Listed:
  • Sakchai Naknok

Abstract

Purpose: The purpose of this study aims to examine the composition effect of fiscal policy variables, labor effectiveness, Thailand’s innovation, public debt, and personal income on human capital. Design/Methodology/Approach: To achieve this purpose, regression models are used, with time series data, employed form 1985 to 2019. The simple model was employed to investigate the effect of fiscal policy and personal income toward both long-run and short-run human capital. Findings: The results found that in the long run after changing fiscal policy, labor effectiveness, Thailand’s innovation, and personal income are positive coefficient and significant for human capital while public debt has a negative coefficient and is significant for human capital in Thailand. Only public debt and personal income are short run significant of human capital accumulation. Practical Implication: Based on the finding of this study, it recommended that appropriate fiscal policy is still worthwhile and fiscal policy authorities must use an effective framework to build the education system in order to improve human capital in Thailand. Originality/Value: Because of this finding, indicating how the effective roles both policy maker and lecturer in university including education pattern should be shaped and reformed. This finding will be the track to enhance labor performance in the long-term human capital and all part of involvement will be aware the future developing target of country in order to ultimately obtain the highest successful not only in Thailand’s labor bot also throughout the world particularly in developing countries..

Suggested Citation

  • Sakchai Naknok, 2021. "Effect of Fiscal Policy on Human Capital in Thailand," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 136-158.
    • Handle: RePEc:ers:ijebaa:v:ix:y:2021:i:1:p:136-158
    as

    Download full text from publisher

    File URL: https://www.ijeba.com/journal/663/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Muhammad Tahir & Arshad Hayat & Kashif Rashid & Muhammad Asim Afridi & Yasir Bin Tariq, 2020. "Human capital and economic growth in OECD countries: some new insights," Journal of Economic and Administrative Sciences, Emerald Group Publishing Limited, vol. 36(4), pages 367-380, June.
    2. Eberhardt, Markus & Presbitero, Andrea F., 2015. "Public debt and growth: Heterogeneity and non-linearity," Journal of International Economics, Elsevier, vol. 97(1), pages 45-58.
    3. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-1072, June.
    4. Claude Diebolt & Michael Haupert (ed.), 2016. "Handbook of Cliometrics," Springer Books, Springer, edition 1, number 978-3-642-40406-1, December.
    5. Sun, Xiuli & Li, Haizheng & Ghosal, Vivek, 2020. "Firm-level human capital and innovation: Evidence from China," China Economic Review, Elsevier, vol. 59(C).
    6. Zhiqian Yu & Ning Zhu & Tomas Baležentis, 2017. "Impact of Public Education and Regional Economic Growth in China: A Shadow-Price Perspective," Sustainability, MDPI, vol. 9(8), pages 1-10, July.
    7. Gensowski, Miriam, 2018. "Personality, IQ, and lifetime earnings," Labour Economics, Elsevier, vol. 51(C), pages 170-183.
    8. Kennedy, Tom & Smyth, Russell & Valadkhani, Abbas & Chen, George, 2017. "Does income inequality hinder economic growth? New evidence using Australian taxation statistics," Economic Modelling, Elsevier, vol. 65(C), pages 119-128.
    9. Engle, Robert & Granger, Clive, 2015. "Co-integration and error correction: Representation, estimation, and testing," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 39(3), pages 106-135.
    10. Phil Armstrong, 2019. "Keynes’s view of deficits and functional finance: a Modern Monetary Theory perspective," International Review of Applied Economics, Taylor & Francis Journals, vol. 33(2), pages 241-253, March.
    11. Teles, Vladimir K. & Cesar Mussolini, Caio, 2014. "Public debt and the limits of fiscal policy to increase economic growth," European Economic Review, Elsevier, vol. 66(C), pages 1-15.
    12. -, 2015. "Latin America and the Caribbean and China: towards a new era in economic cooperation," Libros y Documentos Institucionales, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), number 38197 edited by Eclac, September.
    13. Mthanti, Thanti & Ojah, Kalu, 2017. "Entrepreneurial orientation (EO): Measurement and policy implications of entrepreneurship at the macroeconomic level," Research Policy, Elsevier, vol. 46(4), pages 724-739.
    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. Muhammad Zia Ullah Khan & Muhammad Illyas & Muqqadas Rahman & Chaudhary Abdul Rahman, 2015. "Money Monetization and Economic Growth in Pakistan," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 3(4), pages 184-192, April.
    2. Xu, Haifeng & Hamori, Shigeyuki, 2012. "Dynamic linkages of stock prices between the BRICs and the United States: Effects of the 2008–09 financial crisis," Journal of Asian Economics, Elsevier, vol. 23(4), pages 344-352.
    3. Yap, Wei Yim & Lam, Jasmine S.L., 2006. "Competition dynamics between container ports in East Asia," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(1), pages 35-51, January.
    4. Xiaojie Xu, 2017. "The rolling causal structure between the Chinese stock index and futures," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 31(4), pages 491-509, November.
    5. Ibrahim Ari & Muammer Koc, 2018. "Sustainable Financing for Sustainable Development: Understanding the Interrelations between Public Investment and Sovereign Debt," Sustainability, MDPI, vol. 10(11), pages 1-25, October.
    6. Séverine MENGUY, 2019. "Does public indebtedness constrain or can it favor economic growth? A simple analytical modeling," Bulletin of Applied Economics, Risk Market Journals, vol. 6(2), pages 1-29.
    7. Ely, David & Salehizadeh, Mehdi, 2001. "American depositary receipts: An analysis of international stock price movements," International Review of Financial Analysis, Elsevier, vol. 10(4), pages 343-363.
    8. Kazem Yavari & Mina Mehrnoosh, 2005. "The Welfare Cost of Inflation in Iran," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 10(2), pages 111-117, fall.
    9. Andrés, Antonio R. & Halicioglu, Ferda, 2010. "Determinants of suicides in Denmark: Evidence from time series data," Health Policy, Elsevier, vol. 98(2-3), pages 263-269, December.
    10. Nathalie Girouard & Sveinbjörn Blöndal, 2001. "House Prices and Economic Activity," OECD Economics Department Working Papers 279, OECD Publishing.
    11. Chi-Wei Su, 2012. "The relationship between exchange rate and macroeconomic variables in China," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 30(1), pages 33-56.
    12. Hande Aksöz Yılmaz, 2020. "The Impact of Foreign Trade on Immigration from Turkey to Germany: ARDL Bounds Test Approach," Journal of Economy Culture and Society, Istanbul University, Faculty of Economics, vol. 62(62), pages 123-143, December.
    13. Erida Curraj, 2019. "Vintage Design Furniture in Albania, a New Retro Design Paradigm in the Post-Communist Era," European Journal of Engineering and Formal Sciences Articles, Revistia Research and Publishing, vol. 2, ejef_19.
    14. Grigori Fainstein & Igor Novikov, 2011. "The Comparative Analysis of Credit Risk Determinants In the Banking Sector of the Baltic States," Review of Economics & Finance, Better Advances Press, Canada, vol. 1, pages 20-45, June.
    15. Lorenzo Carbonari & Alessio Farcomeni & Filippo Maurici & Giovanni Trovato, 2023. "On the output effect of fiscal consolidation plans: a causal analysis," Working Paper series 23-18, Rimini Centre for Economic Analysis.
    16. İbrahim Özmen & Mihai Mutascu, 2024. "Public Debt and Growth: New Insights," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 8706-8736, June.
    17. Wilton Bernardino & João B. Amaral & Nelson L. Paes & Raydonal Ospina & José L. Távora, 2022. "A statistical investigation of a stock valuation model," SN Business & Economics, Springer, vol. 2(8), pages 1-25, August.
    18. Janice Boucher Breuer & John McDermott, 2019. "Debt And Depression," Contemporary Economic Policy, Western Economic Association International, vol. 37(4), pages 714-730, October.
    19. Isabel Cortés-Jiménez & Manuel Artís, 2005. "The role of the tourism sector in economic development - Lessons from the Spanish experience," ERSA conference papers ersa05p488, European Regional Science Association.
    20. SangKun Bae & Mark J. Jensen, 1998. "Long-Run Neutrality in a Long-Memory Model," Macroeconomics 9809006, University Library of Munich, Germany, revised 21 Apr 1999.

    More about this item

    Keywords

    Human capital; fiscal policy; eucation reform; labor performance; Thailand.;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

    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:ers:ijebaa:v:ix:y:2021:i:1:p:136-158. 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: Marios Agiomavritis (email available below). General contact details of provider: https://ijeba.com/ .

    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.