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Education and economic growth in Korea, 1966 to 1997

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  • Education and economic growth in Korea, 1966 to 1997
  • Lee, Namchul
  • The Clute Institute


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Title Education and economic growth in Korea, 1966 to 1997
Similar Titles
Material Type Articles
Author(English)

Lee, Namchul

Publisher

[Colorado, United States]:The Clute Institute

Date 2000
Journal Title; Vol./Issue The Journal of Applied Business Research:vol. 16(no. 4)
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Social Development < Education
Holding The Clute Institute

Abstract

This paper examines the aggregate production function for Korea, using direct estimates of human capital. The contribution of this study possibly provides be affirmation of the myriad role education plays in Korean society, including that of economic growth. I have used the Cobb-Douglas production and time series data of physical technique, I have used modern time series methods specifically designed to deal with covariance stationary based on the Augmented Dickey Fuller(ADF) unit root tests. To date, these techniques have not been frequently used to explore the nature of quantity and quality human capital variables, physical capital, and labor variables. This study has led me to the conclusion that the level of human capital is a significant determinant for economic growth. The coefficient for the quantity of human capital stock, however, I found to be negative and significant. These measures ignore the important role of training and learning through practice. (The rest omitted).