IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Economic Reforms, Human Capital, And Economic Growth In India And South Korea: A Cointegration Analysis

  • Svitlana Maksymenko

    ()

    (Department of Economics, University of Pittsburgh)

  • Mahbub Rabbani

    ()

    (Economic Consulting Miliman Inc.)

By employing a multivariate time series model, this study advances theoretical and empirical research on the role of economic reforms and human capital accumulation in the post-reform economic growth. We construct two indexes £­a human capital index and a composite economic reform index£­ and perform a cointegration analysis of a long-run equilibrium growth path in India and South Korea twelve years after the implementation of reform. The significant positive effect of human capital accumulation is revealed in both India and South Korea. The impact of economic reforms is found to be heterogeneous across countries: the effect is positive, significant, and sizable in South Korea, while it is negative and relatively small in India. This result is suggestive of different degrees of efficiency of reform measures implementation in two countries.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.jed.or.kr/full-text/36-2/3.pdf
Download Restriction: no

Article provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.

Volume (Year): 36 (2011)
Issue (Month): 2 (June)
Pages: 39-59

as
in new window

Handle: RePEc:jed:journl:v:36:y:2011:i:2:p:39-59
Contact details of provider: Web page: http://www.jed.or.kr/

More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Sebastian Edwards, 1991. "Trade Orientation, Distortions and Growth in Developing Countries," NBER Working Papers 3716, National Bureau of Economic Research, Inc.
  2. MacKinnon, James G, 1996. "Numerical Distribution Functions for Unit Root and Cointegration Tests," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 11(6), pages 601-18, Nov.-Dec..
  3. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
  4. Zhang, Xiaobo & Fan, Shenggen, 2001. "How productive is infrastructure?: new approach and evidence from rural India," EPTD discussion papers 84, International Food Policy Research Institute (IFPRI).
  5. Dani Rodrik, 1996. "Understanding Economic Policy Reform," Journal of Economic Literature, American Economic Association, vol. 34(1), pages 9-41, March.
  6. Saumya Chakrabarti & Anirban Kundu, 2009. "Formal-Informal Sectors¡¯ Conflict: A Structuralist Framework For India," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 34(2), pages 27-67, December.
  7. Harvie, Charles & Pahlavani, Mosayeb, 2006. "Sources of Economic Growth in South Korea: An Application of the ARDL Analysis in the Presence of Structural Breaks - 1980-2005," Economics Working Papers wp06-17, School of Economics, University of Wollongong, NSW, Australia.
  8. Atheendar S. Venkataramani & K.R. Shanmugam & Jennifer Prah Ruger, 2010. "Health, Technical Efficiency, And Agricultural Production In Indian Districts," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 35(4), pages 1-23, December.
  9. Mahbub Rabbani & Svitlana Maksymenko, 2011. "Do economic reforms and human capital explain post-reform growth?," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 4(1), pages 9-34.
  10. Larson, David F. & Butzer, Rita & Mundlak, Yair & Crego, Al, 2000. "A Cross-Country Database for Sector Investment and Capital," World Bank Economic Review, World Bank Group, vol. 14(2), pages 371-91, May.
  11. Larson, Donald & Butzer, Rita & Mundlak, Yair & Crego, Al, . "Sectoral Investment and Capital," Instructional Stata datasets for econometrics sectinvcap, Boston College Department of Economics.
  12. Nehru, Vikram & Swanson, Eric & Dubey, Ashutosh, 1995. "A new database on human capital stock in developing and industrial countries: Sources, methodology, and results," Journal of Development Economics, Elsevier, vol. 46(2), pages 379-401, April.
  13. Joysri Acharyya, 2009. "Fdi, Growth And The Environment: Evidence From India On Co2 Emission During The Last Two Decades," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 34(1), pages 43-58, June.
  14. Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:jed:journl:v:36:y:2011:i:2:p:39-59. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Changhui Kang)

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.