The effect of education and investment on per capita GDP

Dani Rahman Hakim and Iin Rosini

International Journal of Education Economics and Development, 2023, vol. 14, issue 4, 391-412

Abstract: This study analysed the effect of education and investment on per capita GDP in Indonesia. This study used mean years of schooling, national secondary school test score, and secondary school student enrolment as education proxies. Meanwhile, the investment in this study was proxied by foreign and domestic investment (DI). This study employed panel data from 34 provinces of Indonesia during the 2013-2019 period with a one-way error component regression model. This study revealed that education could positively affect per capita gross domestic product (GDP) if it were proxied by mean years of schooling and secondary school student enrolment. This study also found that DI proved to have a positive and significant effect on per capita GDP. The results of this study are robust after controlling the incremental capital-output ratio (ICOR) and Gini ratio.

Keywords: education; GDP; investment. (search for similar items in EconPapers)
Date: 2023
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