Significance of human capital on the economic growth of the Gambia
Yükleniyor...
Dosyalar
Tarih
2020
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
İstanbul Ticaret Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Since time immemorial, economic growth has been a chief concern for macroeconomic policymakers in every country. The significance of human capital in achieving these concerns is making waves in the space of contemporary development economics. Much theoretical and empirical evidence has shown that human capital accumulation (education and health) and their collective capabilities are a vital variable for economic development. This paper investigates the existing literature on the importance of human capital on the economic growth of the Gambia from 1990- 2019. Using annual time series economic data, we applied the econometric techniques of the ADF test to prove stationarity, rejection, and acceptance of the hypothesis of Granger causality and rejection of the null hypothesis of Johans en’s cointegration test. The Vector Error Correction Model (VECM) model was conducted, and the findings indicated a positive relationship between education and GDP in the long-run and a bidirectional relationship in the short-run. Thus, we recommended the policymakers to create strategic and prudent policies that would promote accessible and quality education with modern technologies to improve the economic growth of The Gambia. We concluded on the premise that investment in people translates to a country's economic growth.
Açıklama
Anahtar Kelimeler
Economic growth, Human Capital, The Gambia, Granger Causality, Vector Error Correction Model Test
Kaynak
International Journal of Commerce and Finance
WoS Q Değeri
Scopus Q Değeri
Cilt
6
Sayı
2
