@article{article_353521, title={Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model}, journal={International Journal of Economics and Financial Issues}, volume={7}, pages={104–112}, year={2017}, author={Bokhari, Abla A.h.}, keywords={Economic Growth, Human Capital, Error Correction model}, abstract={To examine the relationship between investment in human capital and economic growth in the Kingdom of Saudi Arabia for the period 1970-2014. Quantitative research design has been implemented. Granger Causality approach has been employed, followed by error correction model. The data stationarity and integration order have been tested, using the Augmented Dickey-Fuller. Any long-run or short-run causality was not observed between expenditure on education and economic growth (per capita GDP). 73.6% variation has been indicated by fixed capital formation of GNP, which is considered as an effective aspect. The results indicated that results are statistically significant with p-value (0.000) at 5% level of significance. Investment in human capital, with the right policy assessments and rehabilitation, can be translated into an essential element of growth in the Saudi economy.}, number={4}, publisher={İlhan ÖZTÜRK}