Researh paper on Evidence from Honduras for an Empirical Analysis of Public Expenditures for Education, Human Capital, and Economic Growth

Description

Title: Evidence from Honduras for an Empirical Analysis of Public Expenditures for Education, Human Capital, and Economic Growth

Abstract: This study’s objective is to evaluate the relationship between public expenditure for education and human capital and economic growth in Honduras from 1990 to 2020, utilizing the instrumental variables (IV) method, which incorporates the components of public spending on education and human capital as well as a set of control variables. The time series were extracted from the online databases of the World Bank. The results indicate that there is no correlation between public expenditures on education and economic growth; they also indicate that human capital does not contribute to economic growth, confirming that the accumulation of human capital is not fully developed. Lastly, the set of control variables deemed crucial by the literature and upon which social and economic development depends substantially are preventing sustained economic growth, so the government and the population face enormous obstacles.

Keywords: public expenditure; education; human capital; economic growth

Paper Quality: SCOPUS / Web of Science Level Research Paper

Subject: Economics

Writer Experience: 20+ Years

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