Main Article Content
Abstract
Purpose – This study reexamines the debate about the possible influence of human capital on economic growth in Indonesia by using an analysis per educational age group.
Methods – This study uses the Autoregressive Distributed Lag (ARDL) model approach using data from 1970 – 2019.
Findings – Empirical results show that short-term primary school enrollment and higher education positively affect economic growth. Meanwhile, in secondary school enrollment, the positive effect only occurs in short-term conditions. In addition, higher education has the highest impact among the three variables.
Implication – The results of this study emphasize the importance of all aspects of education as a representation of human resources, especially using different age specifications.
Originality – This study contributes to modeling the effect of human capital per educational age group using the ARDL method.
Abstrak
Tujuan – Penelitian ini menguji kembali perdebatan mengenai adanya kemungkinan pengaruh modal manusia terhadap pertumbuhan ekonomi di Indonesia dengan menggunakan analisis per kelompok usia Pendidikan.
Metode – Penelitian ini menggunakan pendekatan model Autoregressive Distributed Lag (ARDL) menggunakan data dari tahun 1970 – 2019.
Temuan – Hasil empiris menunjukkan bahwa pada jangka pendek pendaftaran sekolah dasar, dan Pendidikan tinggi berpengaruh posifit terhadap pertumbuhan ekonomi. Sedangkan pada pendaftaran sekolah menengah, pengaruh positif hanya terjadi pada kondisi jangka pendek. Selain itu, dampak pendidikan tinggi memberikan dampak tertinggi di antara ketiga variabel tersebut.
Implikasi – Hasil studi ini menekankan pentingnya semua aspek pendidikan sebagai representasi sumber daya manusia terutama menggunakan spesifikasi usia yang berbeda.
Orisinalitas – Penelitian ini berkontribusi dalam memodelkan pengaruh modal manusia per kelompok usia pendidikan dengan menggunakan metode ARDL.
Keywords
Article Details
Copyright (c) 2022 Mustika Noor Mifrahi, Hanif Nur Rahmat
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
References
- Becker, G. S. (1964). Human capital. New York, USA: NBER.
- Barro, R.J & Lee, J. -W (1994). Sources of economic growth. Carnegie-Rochester. Conference Series on Public Policy, (40),1 – 46
- Barro, R. (2001). Education and Economic Growth. In J. F. Helliwell (Ed.), The Contribution of Human and Social Capital to Sustained Economic Growth and Well-Being. OECD.
- Barro, R. J., & Lee, J. W. (2013). A new data set of educational attainment in the world, 1950–2010. Journal Of Development Economics, 104, 184-198.
- Benhabib, J., & Spiegel, M. (1994). The role of human capital in economic development: Evidence from aggregate cross-country data. Journal of Monetary Economics, 34(2), 143–174.
- Becker, G. (1994). Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Ed.) Chicago: The University of Chicago Press.
- De LaFuente, A. (2011). Human Capital and Productivity. Barcelona Economics Working Paper Series, 1-20.
- Donou-Adonsou, Ficawoyi. (2019). Technology, education, and economic growth in Sub-Saharan Africa. Telecommunications policy, 43, (4), 353-360.
- Ezkirianto, R., & Findi A, M. (2013). Analisis Keterkaitan Antara Indeks Pembangunan Manusia dan PDRB per Kapita di Indonesia. Jurnal Ekonomi dan Kebijakan Pembangunan, 14-29.
- Feenstra, R. C., Robert I. & Marcel P. T. (2015), The Next Generation of the Penn World Table, American Economic Review, 105(10), 3150-3182, www.ggdc.net/pwt
- Gümüş, S. (2005). Human Capital and Economic Development: An Econometric Analysis on Turkey (1960-2002). Istanbul: Iktisadi Arastirmalar Vakfi.
- Hanushek, E. A., & Woessmann, L. (2008). The role of cognitive skills in economic development. Journal of economic literature, 46(3), 607-668.
- Hanushek, E. A., & Woessmann, L. (2020). Education, knowledge capital, and economic growth. In The Economics of Education (pp. 171-182). Academic Press.
- Ifa, A., & Guetat, I. (2018). Does Public Expenditure on Education Promote Tunisian and Moroccan GDP per Capita: ARDL approach. The Journal of Finance and Data Science, 234-246.
- Lee, J. W., & Hong, K. (2012). Economic growth in Asia: Determinants and prospects. Japan and the World Economy, 24(2), 101-113.
- Li, T., Lai, J. T., Wang, Y., & Zhao, D. (2016). Long-run relationship between inequality and growth in post-reform China: New evidence from dynamic panel model. International Review of Economics & Finance, 41, 238-252.
- Lenkei, B., Mustafa, G., & Vecchi, M. (2018). Growth in emerging economies: Is there a role for education?. Economic Modelling, 73, 240-253.
- Lucas, R. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22, 3–42
- Mankiw, N. G., Romer, D., & Weil, D. (1992). A contribution to the empirics of economic growth. Quarterly Journal of Economics, 107(2), 407–437.
- Mariana, D.C. (2015). Education as a determinant of the economic growth. The case of Romania. Procedia - Social and Behavioral Sciences, 197, 404-412.
- Mercan, M., & Sezer, S. (2014). The Effect of Education Expenditure on Economic Growth: The Case of Turkey. Procedia-Social and Behavioral Sciences, 109, 925-930.
- Nelson, R. E., & Johnson, S. D. (1997). Entrepreneurship education as a strategic approach to economic growth in Kenya. Journal of Industrial Teacher Education, 35, 7-21.
- Nelson, R., & Phelps, E. (1966). Investment in humans, technological diffusion, and economic growth. American Economic Review, 61, 69–75.
- OECD. (2020). Education at a Glance 2020: OECD Indicators. Paris: OECD Publishing, https://doi.org/10.1787/69096873-en.
- Ogundari, K., & Awokuse, T. (2018). Human capital contribution to economic growth in Sub-Saharan Africa: Does health status matter more than education? Economic Analysis and Policy, 58, 131-140.
- Okpala, A. (2014). The Role of School Life Expectancy and Urbanization on Adult Literacy Rates in Sub-Saharan Africa. International Business & Economics Research Journal, 329-334.
- Park, J. (2012). Total factor productivity growth for 12 Asian economies: The past and the future. Japan and the World Economy, 24(2), 114-127.
- Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of applied econometrics, 16(3), 289-326.
- Pritchett, L. (2001). Where has all the education gone?. The World Bank Economic Review, 15(3), 367-391.
- Rahman, T. (2015). Determinasi Pertumbuhan Ekonomi di ASEAN. Media Ekonomi, 23(3), 199-212.
- Romer, P. M. (1989). Human capital and growth: Theory and evidence. NBER Working Paper 3173, 1–51.
- Romer, P. (1990). Human capital and growth: Theory and evidence. Carnegie Rochester Conference Series on Public Policy, 32. (pp. 251–286), 251–286.
- Ridho, S., & Razzaq, A. (2018). Secondary school enrollment impact on the economic as an essential input of civilization. Jurnal Ekonomi dan Studi Pembangunan, 202-207.
- Schultz, T. (1961). Investment in human capital. American Economic Review, 1-17.
- Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 70(1), 65-94.
- Stevens, P., & Weale, M. (2003). In Geraint Johnes and Jill Johnes (Ed). International handbook on the economics of education: Education and economic growth. Massachusetts: Edward Elgar Publishing, Inc.
- Sylwester, K. (1999). Can education expenditure reduce income inequality?. Economic and Education Review, 43-52.
- Todaro, M. (2006). Pembangunan Ekonomi Di Dunia Ketiga Edisi 9. Jakarta: Erlangga.
- Weil, D. N. (2014). Health and economic growth. In Handbook of economic growth (Vol. 2, pp. 623-682). Elsevier.
- Widarjono, A. (2015). Statistika Terapan Dengan Excel dan SPSS. Yogyakarta: UPP STIM YKPN.
References
Becker, G. S. (1964). Human capital. New York, USA: NBER.
Barro, R.J & Lee, J. -W (1994). Sources of economic growth. Carnegie-Rochester. Conference Series on Public Policy, (40),1 – 46
Barro, R. (2001). Education and Economic Growth. In J. F. Helliwell (Ed.), The Contribution of Human and Social Capital to Sustained Economic Growth and Well-Being. OECD.
Barro, R. J., & Lee, J. W. (2013). A new data set of educational attainment in the world, 1950–2010. Journal Of Development Economics, 104, 184-198.
Benhabib, J., & Spiegel, M. (1994). The role of human capital in economic development: Evidence from aggregate cross-country data. Journal of Monetary Economics, 34(2), 143–174.
Becker, G. (1994). Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Ed.) Chicago: The University of Chicago Press.
De LaFuente, A. (2011). Human Capital and Productivity. Barcelona Economics Working Paper Series, 1-20.
Donou-Adonsou, Ficawoyi. (2019). Technology, education, and economic growth in Sub-Saharan Africa. Telecommunications policy, 43, (4), 353-360.
Ezkirianto, R., & Findi A, M. (2013). Analisis Keterkaitan Antara Indeks Pembangunan Manusia dan PDRB per Kapita di Indonesia. Jurnal Ekonomi dan Kebijakan Pembangunan, 14-29.
Feenstra, R. C., Robert I. & Marcel P. T. (2015), The Next Generation of the Penn World Table, American Economic Review, 105(10), 3150-3182, www.ggdc.net/pwt
Gümüş, S. (2005). Human Capital and Economic Development: An Econometric Analysis on Turkey (1960-2002). Istanbul: Iktisadi Arastirmalar Vakfi.
Hanushek, E. A., & Woessmann, L. (2008). The role of cognitive skills in economic development. Journal of economic literature, 46(3), 607-668.
Hanushek, E. A., & Woessmann, L. (2020). Education, knowledge capital, and economic growth. In The Economics of Education (pp. 171-182). Academic Press.
Ifa, A., & Guetat, I. (2018). Does Public Expenditure on Education Promote Tunisian and Moroccan GDP per Capita: ARDL approach. The Journal of Finance and Data Science, 234-246.
Lee, J. W., & Hong, K. (2012). Economic growth in Asia: Determinants and prospects. Japan and the World Economy, 24(2), 101-113.
Li, T., Lai, J. T., Wang, Y., & Zhao, D. (2016). Long-run relationship between inequality and growth in post-reform China: New evidence from dynamic panel model. International Review of Economics & Finance, 41, 238-252.
Lenkei, B., Mustafa, G., & Vecchi, M. (2018). Growth in emerging economies: Is there a role for education?. Economic Modelling, 73, 240-253.
Lucas, R. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22, 3–42
Mankiw, N. G., Romer, D., & Weil, D. (1992). A contribution to the empirics of economic growth. Quarterly Journal of Economics, 107(2), 407–437.
Mariana, D.C. (2015). Education as a determinant of the economic growth. The case of Romania. Procedia - Social and Behavioral Sciences, 197, 404-412.
Mercan, M., & Sezer, S. (2014). The Effect of Education Expenditure on Economic Growth: The Case of Turkey. Procedia-Social and Behavioral Sciences, 109, 925-930.
Nelson, R. E., & Johnson, S. D. (1997). Entrepreneurship education as a strategic approach to economic growth in Kenya. Journal of Industrial Teacher Education, 35, 7-21.
Nelson, R., & Phelps, E. (1966). Investment in humans, technological diffusion, and economic growth. American Economic Review, 61, 69–75.
OECD. (2020). Education at a Glance 2020: OECD Indicators. Paris: OECD Publishing, https://doi.org/10.1787/69096873-en.
Ogundari, K., & Awokuse, T. (2018). Human capital contribution to economic growth in Sub-Saharan Africa: Does health status matter more than education? Economic Analysis and Policy, 58, 131-140.
Okpala, A. (2014). The Role of School Life Expectancy and Urbanization on Adult Literacy Rates in Sub-Saharan Africa. International Business & Economics Research Journal, 329-334.
Park, J. (2012). Total factor productivity growth for 12 Asian economies: The past and the future. Japan and the World Economy, 24(2), 114-127.
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of applied econometrics, 16(3), 289-326.
Pritchett, L. (2001). Where has all the education gone?. The World Bank Economic Review, 15(3), 367-391.
Rahman, T. (2015). Determinasi Pertumbuhan Ekonomi di ASEAN. Media Ekonomi, 23(3), 199-212.
Romer, P. M. (1989). Human capital and growth: Theory and evidence. NBER Working Paper 3173, 1–51.
Romer, P. (1990). Human capital and growth: Theory and evidence. Carnegie Rochester Conference Series on Public Policy, 32. (pp. 251–286), 251–286.
Ridho, S., & Razzaq, A. (2018). Secondary school enrollment impact on the economic as an essential input of civilization. Jurnal Ekonomi dan Studi Pembangunan, 202-207.
Schultz, T. (1961). Investment in human capital. American Economic Review, 1-17.
Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 70(1), 65-94.
Stevens, P., & Weale, M. (2003). In Geraint Johnes and Jill Johnes (Ed). International handbook on the economics of education: Education and economic growth. Massachusetts: Edward Elgar Publishing, Inc.
Sylwester, K. (1999). Can education expenditure reduce income inequality?. Economic and Education Review, 43-52.
Todaro, M. (2006). Pembangunan Ekonomi Di Dunia Ketiga Edisi 9. Jakarta: Erlangga.
Weil, D. N. (2014). Health and economic growth. In Handbook of economic growth (Vol. 2, pp. 623-682). Elsevier.
Widarjono, A. (2015). Statistika Terapan Dengan Excel dan SPSS. Yogyakarta: UPP STIM YKPN.