Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model

Volume: 7 Number: 4 December 1, 2017
  • Abla A.h. Bokhari
EN

Human Capital Investment and Economic Growth in Saudi Arabia: 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.

Keywords

Details

Primary Language

English

Subjects

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Journal Section

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Authors

Abla A.h. Bokhari This is me

Publication Date

December 1, 2017

Submission Date

December 1, 2017

Acceptance Date

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Published in Issue

Year 2017 Volume: 7 Number: 4

APA
Bokhari, A. A. (2017). Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model. International Journal of Economics and Financial Issues, 7(4), 104-112. https://izlik.org/JA52PF87NU
AMA
1.Bokhari AA. Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model. IJEFI. 2017;7(4):104-112. https://izlik.org/JA52PF87NU
Chicago
Bokhari, Abla A.h. 2017. “Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model”. International Journal of Economics and Financial Issues 7 (4): 104-12. https://izlik.org/JA52PF87NU.
EndNote
Bokhari AA (December 1, 2017) Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model. International Journal of Economics and Financial Issues 7 4 104–112.
IEEE
[1]A. A. Bokhari, “Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model”, IJEFI, vol. 7, no. 4, pp. 104–112, Dec. 2017, [Online]. Available: https://izlik.org/JA52PF87NU
ISNAD
Bokhari, Abla A.h. “Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model”. International Journal of Economics and Financial Issues 7/4 (December 1, 2017): 104-112. https://izlik.org/JA52PF87NU.
JAMA
1.Bokhari AA. Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model. IJEFI. 2017;7:104–112.
MLA
Bokhari, Abla A.h. “Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model”. International Journal of Economics and Financial Issues, vol. 7, no. 4, Dec. 2017, pp. 104-12, https://izlik.org/JA52PF87NU.
Vancouver
1.Abla A.h. Bokhari. Human Capital Investment and Economic Growth in Saudi Arabia: Error Correction Model. IJEFI [Internet]. 2017 Dec. 1;7(4):104-12. Available from: https://izlik.org/JA52PF87NU