An examination of the impact of education on economic growth in Namibia
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Date
2018
Authors
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Journal ISSN
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Publisher
University of Namibia
Abstract
This study examines the relationship between education and economic growth for the Namibian economy by employing Real Gross Domestic Product (RGDP), gross fixed capital formation (GFCF) and education index (EDU) for the period 1980 to 2017. This study uses Real Gross Domestic Product as a proxy for economic growth. The series were tested for stationarity using Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) tests. The Autoregressive Distributed Lag approach to co-integration is employed to carry out the study. The study also uses the Granger Causality test. In particular the research main objective is to investigate the relationship between education and economic growth. The findings indicate that RGDP and GFCF variables were stationary in levels while EDU was found to be non-stationary however became stationary after being differenced once. Granger Causality test results do not support the hypothesis of education causing economic growth in Namibia and concurs with the results of ARDL test to co-integration. The empirical investigations suggest that education has no significant impact on economic growth in Namibia.
Description
A thesis submitted in partial fulfillment of the requirements for the Degree of Master of Science in Economics
Keywords
Economic growth