Education and Economic Growth: The Causal Relationship in Sierra Leone

Emerson Jackson

MPRA Paper from University Library of Munich, Germany

Abstract: The objective of the paper is to investigate the value-addition that expenditure on education has on economic growth in the Sierra Leone. The vector autoregression methodology is applied to annual dataspanning 2000 – 2021, taking the time series properties of variables into consideration. A shock to government investment in education shows a positive response of growth but not immediately, which confirm that investment in education is conducive to long-term growth in Sierra Leone. Given government budget constraint, especially under a highly constrained tax revenue mobilization, efforts in building Public-Private-Partnership (PPP) as a way of facilitating sustainable long-term economic growth is imperative while increased donor support for Government investment in education is important for sustained inclusive growth in Sierra Leone.

Keywords: Education; Economic Growth; VAR; Sierra Leone (search for similar items in EconPapers)
JEL-codes: C8 C81 I26 O47 (search for similar items in EconPapers)
Date: 2023-05-01, Revised 2023-05-09
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Published in Bank of Sierra Leone Policy Brief (2023): pp. 1-8

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