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his article investigates the impact of education on economic growth in Guatemala for the 1951-2002 period. An error-correction model shows that a better-educated labor force has a positive and significant impact on economic growth. A growth-accounting framework demonstrates that human capital...
Persistent link: https://www.econbiz.de/10012770613
This paper investigates the impact of human capital on economic growth in Guatemala through the application of an error-correction methodology. Two channels are analyzed, by which human capital is expected to influence growth. A better-educated labor force appears to have a positive and...
Persistent link: https://www.econbiz.de/10012770659
We analyze the role of industrial and non-industrial production sectors in the US economy by adopting a novel multilevel factor model. The proposed model is suitable for high-dimensional panels of economic time series and allows for interdependence structures across multiple sectors. The...
Persistent link: https://www.econbiz.de/10014249846
Maizels (1968) hypothesizes that exports contribute more to savings than the non-export part of GDP. In this paper, we …
Persistent link: https://www.econbiz.de/10014209039
This paper investigates the impact of human capital on economic growth in Guatemala through the application of an error-correction methodology. Two channels are analyzed, by which human capital is expected to influence growth. A better-educated labor force appears to have a positive and...
Persistent link: https://www.econbiz.de/10014089191
Persistent link: https://www.econbiz.de/10011977154
Limited diversification is an underlying characteristic of many low-income countries (LICs). Concentration in sectors with limited scope for increases in productivity and quality may result in less broad-based and sustainable growth. Moreover, lack of diversification may increase exposure to...
Persistent link: https://www.econbiz.de/10011245889
We use a heterogeneous panel VAR model identified through factor analysis to study the dynamic response of exports …, imports, and per capita GDP growth to a “global” aid shock. We find that a global aid shock can affect exports, imports, and … ambiguous results in the existing literature. For most countries in the sample, when aid reduces exports and imports, it also …
Persistent link: https://www.econbiz.de/10011242264
This study examined the composition effect of government expenditure on private consumption and output growth in Nigeria using the framework of single equation error correction mechanism. The unit root and cointegration tests were conducted on the variables of interest while single equations...
Persistent link: https://www.econbiz.de/10010480256
Persistent link: https://www.econbiz.de/10013262971