Higher education, real income and real investment in China : evidence from Granger causality tests

Narayan, Paresh Kumar and Smyth, Russell 2006, Higher education, real income and real investment in China : evidence from Granger causality tests, Education economics, vol. 14, no. 1, pp. 107-125.

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Title Higher education, real income and real investment in China : evidence from Granger causality tests
Author(s) Narayan, Paresh Kumar
Smyth, Russell
Journal name Education economics
Volume number 14
Issue number 1
Start page 107
End page 125
Publisher Routledge
Place of publication London, England
Publication date 2006-03
ISSN 0964-5292
1469-5782
Keyword(s) China
higher education
economic growth
causality
economics
Summary This paper employs cointegration and error-correction modelling to test the causal relationship between real income, real investment and tertiary education using data for the People's Republic of China over the period 1952-1999. To proxy tertiary education we use higher education enrolments and higher education graduates in alternative empirical specifications. One of the paper's main findings is that real income, real investment and tertiary education are cointegrated when real investment is the dependent variable, but are not cointegrated when either tertiary education or real income is the dependent variable. We also extend the in-sample analysis to examine the decomposition of variance and impulse response functions.
Language eng
Field of Research 140204 Economics of Education
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2006, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30018628

Document type: Journal Article
Collection: School of Accounting, Economics and Finance
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