Education, Savings, and Economic Growth in Côte d'Ivoire: An Intertemporal Application of the Ramsey Model

This paper examines the impact of education expenditures, demographic growth, and life expectancy on economic growth in Côte d’Ivoire through the intertemporal Ramsey model. The study employs an ARDL approach combined with an Error Correction Model (ECM) to assess the effects of public spending on education, demographic dynamics, and life expectancy on GDP per capita. In the long run, the findings reveal that these three variables exert a positive and significant influence on economic growth, highlighting the central role of human capital and demographic factors in the development process. In the short run, only investment in education shows an immediate measurable effect. The error correction term is negative and significant, indicating a rapid adjustment toward equilibrium after a shock. These results underscore the necessity of strengthening social policies, particularly in education and health, to foster inclusive and sustainable growth in the medium and long term.