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Cogent Economics & Finance Volume 11, 2023 - Issue 1
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DEVELOPMENT ECONOMICS

Human capital and its impact on Ethiopian economic growth: ARDL approach to co-integration

Hinsene Lemma Wegari1 Department of Economics, College of Business and Economics, Jimma University, Jimma, EthiopiaCorrespondence[email protected]
ORCID Iconhttps://orcid.org/0009-0004-4407-0518View further author information
ORCID Icon,
Sisay Tolla Whakeshum1 Department of Economics, College of Business and Economics, Jimma University, Jimma, EthiopiaORCID Iconhttps://orcid.org/0000-0003-3645-7216View further author information
ORCID Icon &
Negese Tamirat Mulatu1 Department of Economics, College of Business and Economics, Jimma University, Jimma, EthiopiaView further author information
Article: 2186046 | Received 13 Nov 2022, Accepted 24 Feb 2023, Published online: 06 Mar 2023

Figures & data

Figure 1. Geographical map of Ethiopia and its neighboring countries.

Figure 1. Geographical map of Ethiopia and its neighboring countries.

Table 1. Specific sources of data

Table 2. Summary of variables’ description

Figure 2. Trends in the share of government expenditure on education and health to GDP in Ethiopia.

Source: Own calculation based on MoFED (2021)
Figure 2. Trends in the share of government expenditure on education and health to GDP in Ethiopia.

Figure 3. Trends of Real GDP in Ethiopia (1980–2020).

Source: Own calculation based on National Bank of Ethiopia data (2020)
Figure 3. Trends of Real GDP in Ethiopia (1980–2020).

Figure 4. Trends of Labor force growth rate in Ethiopia.

Source: Own calculation based on NBE and CSA, 2021
Figure 4. Trends of Labor force growth rate in Ethiopia.

Figure 5. Trends of secondary school enrolment rate in Ethiopia (1980–2020).

Source: Own calculation from MoE and EES (2021) database
Figure 5. Trends of secondary school enrolment rate in Ethiopia (1980–2020).

Figure 6. Inflation annual percentage change trend, Ethiopia (1980–2020).

Source: own computation from NBE data, 2021
Figure 6. Inflation annual percentage change trend, Ethiopia (1980–2020).

Table 3. Lag order selection

Table 4. Augmented Dickey-Fuller and Phillips-Perron Unit Root Tests

Table 5. ARDL Bound test for Long-run relationship

Table 6. The long-run ARDL parameter estimates

Table 7. Summary of diagnostics tests

Figure 7. CUSUM of Squares.

Source: Model diagnostics test result using EViews 10
Figure 7. CUSUM of Squares.

Table 8. ECM Regression

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