THE ROLE OF EDUCATED LEADERS IN ECONOMIC GROWTH AND DEVELOPMENT: EVIDENCE FROM CENTRAL AFRICAN REPUBLIC AND SINGAPORE

Oluwole Owoye and Olugbenga Onafowora ()
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Oluwole Owoye: Department of Social Sciences/Economics, Western Connecticut State University, Danbury, CT 06810, USA

The Singapore Economic Review (SER), 2020, vol. 65, issue 01, 81-102

Abstract: This paper postulates that highly educated leaders matter in economic growth and development and that this is one of the fundamental causes of the differences in income between countries. To verify this assertion, we examine Central African Republic and Singapore within the neoclassical growth model that incorporates educational attainments of leaders as the functionally relevant explanatory variable. We found the mean years of schooling of educated leaders to be statistically and significantly different in both countries, but more importantly, educational attainments of leaders have a positive and statistically significant effect on economic growth in Singapore, but negative in Central African Republic.

Keywords: Educated leaders; economic growth; development; Central African Republic; Singapore; policy choices (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1142/S0217590818500364

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