The long-run Relationship between Human Capital and Economic Growth in Sweden

MPRA Paper from University Library of Munich, Germany

Abstract: The relationship between education and economic growth has been one of the fundamental themes of economic analysis. Despite the growing interest in the relationship between growth and education, and despite the strong theoretical foundations for a key role of education/human capital in economic growth, the empirical evidences, particularly those using causality analyses, are fragile at best. By utilizing the recently developed series of human capital, this paper examined the causal relationship between human capital and economic growth for Sweden over the period 1870-2000. The result from the Granger causality test shows that there is bidirectional causality running from human capital to output per worker and vice versa. Moreover, using vector error correction model, the paper shows that human capital has a significant positive impact on economic growth in Sweden.

Keywords: education; human capital; economic growth (search for similar items in EconPapers)
JEL-codes: I21 I25 O15 O41 (search for similar items in EconPapers)
Date: 2013-03
New Economics Papers: this item is included in nep-edu, nep-fdg and nep-hrm
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:45183

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