Government spending in education and economic growth in Cameroon:a Vector error Correction Model approach
This study aims at assessing the effect of government spending in education on economic growth in Cameroon over the period 1980-2012 using a vector error correction model. The estimated results show that these expenditures had a significant and positive impact on economic growth both in short and long run. The estimated error correction model shows that an increase of 1% of the growth rate of private gross fixed capital formation and government education spending led to increases of 5.03% and 10.145 % respectively in the long-run on economic growth . Education spending thus appears as one of the main driving force of the economic growth process in Cameroon.
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- Risti Permani, 2009. "The Role of Education in Economic Growth in East Asia: a survey," Asian-Pacific Economic Literature, Asia Pacific School of Economics and Government, The Australian National University, vol. 23(1), pages 1-20, May.
- Azomahou, Theophile & Diene, Bity & Diene, Mbaye, 2009. "Technology frontier, labor productivity and economic growth: Evidence from OECD countries," MERIT Working Papers 059, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
- Théophile T. Azomahou & Bity Diene & Mbaye Diene, 2009. "Technology frontier, labor productivity and economic growth: Evidence from OECD countries," CREA Discussion Paper Series 09-19, Center for Research in Economic Analysis, University of Luxembourg.
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