Time series evidence on education and growth: the case of Guatemala, 1951-2002
Revista de Analisis Economico – Economic Analysis Review, 2004, vol. 19, issue 2, 3-40
This 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 explains about 50 percent of output growth. The findings are robust to changes to the conditioning set of variable, while controlling for data issues and endogeneity. The results also compare favorably with the microeconomic evidence.
Keywords: Education; Economic Growth; Econometrics; Guatemala. (search for similar items in EconPapers)
JEL-codes: I20 C22 C51 O54 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ila:anaeco:v:19:y:2004:i:2:p:3-40
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