지방교육재정지출 및 지역인적자본형성과 지역경제성장간의 동태적 관계분석 -패널 VAR모형을 이용한 16개 광역시,도를 중심으로- = An Analysis on Dynamic Relationship between Local Government Educational Expenditure and Human Capital with Regional Economic Growth

다국어 초록 (Multilingual Abstract)

This paper analyzes the dynamic relationship between local government educational expenditure and human capital with regional economic growth by using the Korean 16 local government panel data from the period 1995 to 2010. we employ Granger causality test, impulse response and variance decomposition analysis based on Panel-VAR econometric model. According to the results of the analysis of the Panel-VAR econometric model, we could find meaningful interdependent causality relationship between the local government educational expenditure and regional economic growth. However, we could not find any meaningful interdependent causality relationship between regional human capital and regional economic growth; we could find only one direction causality relationship from regional economic growth to regional human capital formation. The causality relationship between the local government educational expenditure and regional human capital also proved to be interrelated. The results of the analysis of the impulse response and variance decomposition reveal that with the passage of time, the impact of regional human capital and local government educational expenditure on regional economic growth has been positive for the studied periods.

참고문헌 (Reference)

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