HIGHER EDUCATION AND ECONOMIC GROWTH: SWEDISH EVIDENCE FROM MULTIVARIATE FRAMEWORK

Saša Obradović, Nemanja Lojanica

DOI Number
-
First page
177
Last page
185

Abstract


In this article, we investigate the long and short run relationship between higher education and economic growth in multivariate framework for Sweden, for the period from 1971 to 2013, by using ARDL approach. Toda-Yamamoto procedures of Granger non-causality test were applied to detect the direction of causality in the relationship between economic growth and higher education. We found that unidirectional causality between higher education and real GDP per capita, exists. This relationship is positive, but not mutually reinforcing.


Keywords

education, economic growth, ARDL, Toda-Yamamoto, Sweden

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References


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