Investment in Physical, Human Capital, Economic Growth and Life Expectancy in Bangladesh

South Asia Economic Journal Pub Date : 2018-09-01 DOI:10.1177/1391561418799110

Biswajit Maitra

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引用次数: 8

Abstract

This article studies the efficacy of the public investment in human capital and physical capital to raise income in Bangladesh over the period 1980–2016. This article also assesses whether the investment in human capital and income have raised life expectancy of the country. The Johansen cointegration test identifies a long-run relation of income with investment on education, health care and physical capital. The error correction mechanism (ECM) based on the cointegrating relation followed by the Wald test of Granger causality has found that these investments have caused income to rise with some lag periods. Robustness of these findings is confirmed by involving an autoregressive distributed lag (ARDL) model of cointegration followed by its ECM representation. On the other hand, the Johansen and ARDL methods of cointegration followed by their ECMs have also found a long-run relation of life expectancy with the investment in education, health care and income. A decisive role of the investment in health care and income on life expectancy is observed, while an unusual negative role of the investment in education is also found. However, positive value of the long-run coefficients of the education and health-care investments of the ECM-ARDL model indicate some long-run favourable impact of these investments on life expectancy in Bangladesh. JEL: I26, I15, C32

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孟加拉国在物质、人力资本、经济增长和预期寿命方面的投资

本文研究了1980-2016年期间孟加拉国在人力资本和物质资本方面的公共投资对提高收入的有效性。本文还评估了对人力资本和收入的投资是否提高了该国的预期寿命。约翰森协整检验确定了收入与教育、医疗保健和实物资本投资之间的长期关系。基于协整关系的误差修正机制(ECM)和格兰杰因果关系的Wald检验发现，这些投资导致收入在一定的滞后期上升。这些发现的稳健性通过涉及协整的自回归分布滞后(ARDL)模型及其ECM表示来证实。另一方面，Johansen和ARDL的协整方法及其ecm也发现了预期寿命与教育、医疗保健和收入的投资之间的长期关系。研究发现，保健和收入方面的投资对预期寿命具有决定性作用，而教育方面的投资也具有不同寻常的消极作用。但是，ECM-ARDL模型的教育和保健投资的长期系数为正值，表明这些投资对孟加拉国的预期寿命产生了一些长期有利影响。耶利米书:i26, i15, c32

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来源期刊

South Asia Economic Journal Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.10

自引率

0.00%

发文量

期刊介绍： The South Asian nations have progressively liberalized their economies in recent years in an effort to integrate with the world economy. They have also taken steps to enhance multilateral and regional economic integration. Even though the South Asian economies have grown at an average rate of more than 5 per cent over the last few years, roughly 40 per cent of their people still live below the poverty line. Hence, the South Asian region continues to face many challenges of economic and social development. The South Asia Economic Journal (SAEJ) is designed as a forum for informed debate on these issues, which are of vital importance to the people of the region who comprise one-sixth of the world’s population. The peer-reviewed journal is devoted to economic analysis and policy options aimed at promoting cooperation among the countries comprising South Asia. It also discusses South Asia’s position on global economic issues, its relations with other regional groupings and its response to global developments. We also welcome contributions to inter-disciplinary analysis on South Asia. As a refereed journal, SAEJ carries articles by scholars, economic commentators,policy-makers and officials, from both the private and public sectors. Our aim is to create a vibrant research space to explore the multidimensional economic issues of concern to scholars working on South Asia. Among the issues debated in relation to South Asia are: - the implications of global economic trends; - the issues and challenges by WTO; - approaches to industrialization and development; - the role of regional institutions such as the SAARC; - the relationship between SAARC and other regional economic groupings such as ASEAN; - the implications of economic liberalization for trade and investment in the region; - new initiatives that can be launched to enhance economic cooperation among the South Asian countries both on a bilateral and a regional basis.