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The Level-Specific Effects of Education on Economic Growth: Evidence from Four Caribbean Countries

Author

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  • Daren A. Conrad

    (Bowie State University, USA)

Abstract

The supply of human capital in the economy's production activities is a function of the quality and volume of education services provided at the secondary and tertiary levels in the education system. Hence, the allocation of resources by government to education is an important determinant of human capital formation. Depending on its level-specific variations, a given amount of human capital accumulation can have differential impacts across sectors and on economic growth. This study posits that government spending on education can be identified as an important indicator of human capital formation that propels economic growth and confirms that for the countries considered, there are level-specific effects of human capital on output in the manufacturing and service sectors, and ultimately on aggregate output. Given this information, policy makers can therefore consider opportunities for enhanced budgetary allocations aimed at building capital that has a positive impact on economic growth.

Suggested Citation

  • Daren A. Conrad, 2011. "The Level-Specific Effects of Education on Economic Growth: Evidence from Four Caribbean Countries," Journal of Developing Areas, Tennessee State University, College of Business, vol. 45(1), pages 279-290, July-Dece.
    • Handle: RePEc:jda:journl:vol.45:year:2011:issue1:pp:279-290
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    File URL: http://muse.jhu.edu/journals/journal_of_developing_areas/v045/45.conrad.html
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    Citations

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    Cited by:

    1. AM.Priyangani Adikari & Haiyun Liu & MMSA. Marasinghe, 2021. "Inward Foreign Direct Investment-Induced Technological Innovation in Sri Lanka? Empirical Evidence Using ARDL Approach," Sustainability, MDPI, vol. 13(13), pages 1-16, June.
    2. Yun, Wong Sing & Yusoff, Remali, 2018. "The Determinants of Public Education Expenditure in Malaysia," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(2), pages 109-122.
    3. Jonck, Petronella & Goujon, Anne & Testa, Maria Rita & Kandala, John, 2015. "Education and crime engagement in South Africa: A national and provincial perspective," International Journal of Educational Development, Elsevier, vol. 45(C), pages 141-151.

    More about this item

    Keywords

    Education; Growth; Level-Specific; Human Capital;
    All these keywords.

    JEL classification:

    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models

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