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:: year 21, Issue 1 (Spring 2015) ::
IRPHE 2015, 21(1): 1-19 Back to browse issues page
The impact of human capital investment on economic growth in the MENA countries, using the dynamic panel data estimated by GMM method
Nahid Rajabzadeh Moghani 1, Mostafa Salimifar Dr., Seyyed Mohsen Seyyed Agha Hosseini
1- , Rajabzadehnahid@gmail.com
Abstract:   (2368 Views)

In recent decades, the importance and the role of human capital in economic growth have been more considered by economists, so that one of the vital factors for economic growth and development is human capital. The aim of this study was to investigate simultaneously the impact of two human capital proxies which included public spending on education and government's health expenditure in 10 selected Middle East and North Africa (MENA) countries using GMM method in 2003-11. The results of GMM estimator for panel dynamic data model indicated that besides physical capital and labor factors, human capital variable also plays an important role in production function of MENA countries. So that 1% increases in government' health expenditure and public spending on education has led to 0.68 and 0.05 percent increase in economic growth, respectively. Also, in this estimation adjustment rate of economic growth is equal to 0.59. That is, 59 percent of the gap between actual value and desired value of economic growth is eliminated per year.  

Keywords: Human capital, Public spending on education, Government\' health expenditure, Economic growth, GMM model, MENA.
Full-Text [PDF 313 kb]   (2699 Downloads)    
Type of Study: Original |
Received: 2015/11/4 | Revised: 2015/11/4 | Accepted: 2015/11/4 | Published: 2015/11/4
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Rajabzadeh Moghani N, Salimifar M, Seyyed Agha Hosseini S M. The impact of human capital investment on economic growth in the MENA countries, using the dynamic panel data estimated by GMM method. IRPHE. 2015; 21 (1) :1-19
URL: http://journal.irphe.ir/article-1-2567-en.html


year 21, Issue 1 (Spring 2015) Back to browse issues page
فصلنامه پژوهش و برنامه ریزی در آموزش عالی Quarterly Journal of Research and Planning in Higher Education
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