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Education and Human Development in the BRICS Countries: An Asymmetric Panel Causality Analysis

Education and Human Development in the BRICS Countries: An Asymmetric Panel Causality Analysis

Mahmut Unsal Sasmaz (Usak University, Turkey) and Yilmaz Bayar (Bandırma Onyedi Eylül University, Turkey)
Copyright: © 2024 |Pages: 13
DOI: 10.4018/979-8-3693-0693-2.ch009
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Abstract

Human development is among the major priorities of the country. Therefore, the driving factors of human development are important for the design of optimal policies. In this context, this chapter analyzes the causal relationship between education and human development in the BRICS states over the period of 1990-2021 by means of asymmetric causality test. The results of the asymmetric causality test uncover a bidirectional causal relationship between education and human development in case of both negative and positive shocks.
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Literature Review

Human capital is vital for innovation, technological development, competitiveness, and entrepreneurship fostering economic growth and development. However, there are significant heterogeneity among countries in terms of human development levels (UNDP, 2023b). Therefore, factors behind human development are crucial for design of optimal policies for increasing the human development. In this context, many demgraphic, social, institutional, and economic factors such as education, fertility rate, life span, institutional quality, GDP per capita, inflation, and government health expenditures have been suggested as the drivers of the human development in the relevant empirical literature (Binder and Georgiadis, 2010; Smit, 2016; Claudia and Arif, 2022).

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