Testing the impact of educational expenditures on economic growth: new evidence from Latin American countries

Testing the impact of educational expenditures on economic growth: new evidence from Latin... This paper investigates the impact of educational expenditures on economic growth for 18 Latin American countries over the period 1970–2009 by using cointegration test procedure in the presence of two unknown structural breaks. Considering structural breaks is necessary for our analysis because of that Latin American countries implemented important reforms to expand their educational systems and these reforms may affect the cointegrating relationship. The findings indicate that there is evidence of cointegrating relationship between educational expenditures and economic growth for the considered countries except Chile, Guyana, Jamaica, Nicaragua, Paraguay, Peru and Uruguay. Another finding of the paper is that identified structural breaks refer to the educational reform periods of Latin American countries. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Quality & Quantity Springer Journals

Testing the impact of educational expenditures on economic growth: new evidence from Latin American countries

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Publisher
Springer Netherlands
Copyright
Copyright © 2013 by Springer Science+Business Media Dordrecht
Subject
Social Sciences, general; Methodology of the Social Sciences; Social Sciences, general
ISSN
0033-5177
eISSN
1573-7845
D.O.I.
10.1007/s11135-013-9828-2
Publisher site
See Article on Publisher Site

Abstract

This paper investigates the impact of educational expenditures on economic growth for 18 Latin American countries over the period 1970–2009 by using cointegration test procedure in the presence of two unknown structural breaks. Considering structural breaks is necessary for our analysis because of that Latin American countries implemented important reforms to expand their educational systems and these reforms may affect the cointegrating relationship. The findings indicate that there is evidence of cointegrating relationship between educational expenditures and economic growth for the considered countries except Chile, Guyana, Jamaica, Nicaragua, Paraguay, Peru and Uruguay. Another finding of the paper is that identified structural breaks refer to the educational reform periods of Latin American countries.

Journal

Quality & QuantitySpringer Journals

Published: Mar 12, 2013

References

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