Effect of Higher Education on Economic Growth in Iran
There are many factors affecting economic growth. Based on the literature, the effects of these factors such as higher education are mainly examined using endogenous economic growth theories. Various theoretical models are used to estimate the relation among variables affecting economic growth. Thi...
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| Format: | Article |
| Language: | fas |
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Tarbiat Modares University
2010-03-01
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| Series: | پژوهشهای اقتصادی |
| Subjects: | |
| Online Access: | http://ecor.modares.ac.ir/article-18-710-en.pdf |
| _version_ | 1797803170682896384 |
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| author | Mojtaba Almasi Keyoumars Sohaili Asghar Sepahban Gharehbaba |
| author_facet | Mojtaba Almasi Keyoumars Sohaili Asghar Sepahban Gharehbaba |
| author_sort | Mojtaba Almasi |
| collection | DOAJ |
| description | There are many factors affecting economic growth. Based on the literature, the effects of these factors such as higher education are mainly examined using endogenous economic growth theories. Various theoretical models are used to estimate the relation among variables affecting economic growth.
This paper investigates the effects of higher education human capital on the economic growth in Iran using the endogenous growth models. The specified model includes human capital, physical investment and foreign debt which are identified as the main determinants of economic growth in Iran. Two dummy variables are included in the model in order to represent the effects of Islamic revolution and imposed war. The Johnson five steps approach is employed to estimate the empirical model.
The results confirm that higher education human capital has a relatively large and statistically significant effect on the economic growth in Iran. It is found that the growth elasticity of higher education human capital is larger than the growth impact of physical capital investment. So, in order to obtain a high rate of economic growth in the country, investment in higher education human capital must be increased. Moreover, based on the findings, it is recommended that the investment should be made using domestic saving instead of financing abroad. |
| first_indexed | 2024-03-13T05:16:49Z |
| format | Article |
| id | doaj.art-138ebb488f7a4437800e92b7defe5b90 |
| institution | Directory Open Access Journal |
| issn | 1735-6768 2980-7832 |
| language | fas |
| last_indexed | 2024-03-13T05:16:49Z |
| publishDate | 2010-03-01 |
| publisher | Tarbiat Modares University |
| record_format | Article |
| series | پژوهشهای اقتصادی |
| spelling | doaj.art-138ebb488f7a4437800e92b7defe5b902023-06-15T20:32:34ZfasTarbiat Modares Universityپژوهشهای اقتصادی1735-67682980-78322010-03-019400Effect of Higher Education on Economic Growth in IranMojtaba Almasi0Keyoumars Sohaili1Asghar Sepahban Gharehbaba2 faculty of Economics, Razi University, Kermanshah Economics, Razi University, Kermanshah Razi University, Kermanshah There are many factors affecting economic growth. Based on the literature, the effects of these factors such as higher education are mainly examined using endogenous economic growth theories. Various theoretical models are used to estimate the relation among variables affecting economic growth. This paper investigates the effects of higher education human capital on the economic growth in Iran using the endogenous growth models. The specified model includes human capital, physical investment and foreign debt which are identified as the main determinants of economic growth in Iran. Two dummy variables are included in the model in order to represent the effects of Islamic revolution and imposed war. The Johnson five steps approach is employed to estimate the empirical model. The results confirm that higher education human capital has a relatively large and statistically significant effect on the economic growth in Iran. It is found that the growth elasticity of higher education human capital is larger than the growth impact of physical capital investment. So, in order to obtain a high rate of economic growth in the country, investment in higher education human capital must be increased. Moreover, based on the findings, it is recommended that the investment should be made using domestic saving instead of financing abroad.http://ecor.modares.ac.ir/article-18-710-en.pdfeconomic growthcointegrationc32human capitalhigh educationvector error correctioniran jel classification: c32o53 |
| spellingShingle | Mojtaba Almasi Keyoumars Sohaili Asghar Sepahban Gharehbaba Effect of Higher Education on Economic Growth in Iran پژوهشهای اقتصادی economic growth cointegration c32 human capital high education vector error correction iran jel classification: c32 o53 |
| title | Effect of Higher Education on Economic Growth in Iran |
| title_full | Effect of Higher Education on Economic Growth in Iran |
| title_fullStr | Effect of Higher Education on Economic Growth in Iran |
| title_full_unstemmed | Effect of Higher Education on Economic Growth in Iran |
| title_short | Effect of Higher Education on Economic Growth in Iran |
| title_sort | effect of higher education on economic growth in iran |
| topic | economic growth cointegration c32 human capital high education vector error correction iran jel classification: c32 o53 |
| url | http://ecor.modares.ac.ir/article-18-710-en.pdf |
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