The Long-Term Impact of Human Capital Investment on GDP: A Panel Cointegrated Regression Analysis

<table class="table-group" id="tab7"><tr><td><table class="table"><tr><td class="thead-hr" colspan="9"><hr/></td></tr><tr class="thead"><td align="left" rowspan="3">Variables</td><td align="center" colspan="4">Developing countries</td><td align="center" colspan="4">Developed countries</td></tr><tr class="thead"><td align="center" colspan="2">Panel DOLS</td><td align="center" colspan="2">FMOLS</td><td align="center" colspan="2">Panel DOLS</td><td align="center" colspan="2">FMOLS</td></tr><tr class="thead"><td align="center">Coefficient</td><td align="center"><svg height="10.3875" id="M38" style="vertical-align:-0.11285pt" version="1.1" viewbox="0 0 5.9250002 10.3875" width="5.9250002" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.125)"><path d="M324 430l-26 -36l-112 -4l-55 -265q-13 -66 7 -66q13 0 44.5 20t50.5 40l17 -24q-38 -40 -85.5 -73.5t-87.5 -33.5q-50 0 -21 138l55 262h-80l-2 8l25 34h66l25 99l78 63l10 -9l-37 -153h128z" id="x1D461"></path></g>
</svg>-stat.</td><td align="center">Coefficient</td><td align="center"><svg height="10.3875" id="M39" style="vertical-align:-0.11285pt" version="1.1" viewbox="0 0 5.9250002 10.3875" width="5.9250002" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.125)"><path d="M324 430l-26 -36l-112 -4l-55 -265q-13 -66 7 -66q13 0 44.5 20t50.5 40l17 -24q-38 -40 -85.5 -73.5t-87.5 -33.5q-50 0 -21 138l55 262h-80l-2 8l25 34h66l25 99l78 63l10 -9l-37 -153h128z" id="x1D461"></path></g>
</svg>-stat.</td><td align="center">Coefficient</td><td align="center"><svg height="10.3875" id="M40" style="vertical-align:-0.11285pt" version="1.1" viewbox="0 0 5.9250002 10.3875" width="5.9250002" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.125)"><path d="M324 430l-26 -36l-112 -4l-55 -265q-13 -66 7 -66q13 0 44.5 20t50.5 40l17 -24q-38 -40 -85.5 -73.5t-87.5 -33.5q-50 0 -21 138l55 262h-80l-2 8l25 34h66l25 99l78 63l10 -9l-37 -153h128z" id="x1D461"></path></g>
</svg>-stat.</td><td align="center">Coefficient</td><td align="center"><svg height="10.3875" id="M41" style="vertical-align:-0.11285pt" version="1.1" viewbox="0 0 5.9250002 10.3875" width="5.9250002" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink">
<g transform="matrix(.017,-0,0,-.017,.062,10.125)"><path d="M324 430l-26 -36l-112 -4l-55 -265q-13 -66 7 -66q13 0 44.5 20t50.5 40l17 -24q-38 -40 -85.5 -73.5t-87.5 -33.5q-50 0 -21 138l55 262h-80l-2 8l25 34h66l25 99l78 63l10 -9l-37 -153h128z" id="x1D461"></path></g>
</svg>-stat.</td></tr><tr><td class="thead-hr" colspan="9"><hr/></td></tr><tr><td align="left">LCAP</td><td align="center">0.451805</td><td align="center">23.43083</td><td align="center">    0.38</td><td align="center">16.44</td><td align="center">0.475174</td><td align="center">28.216627</td><td align="center">0.42</td><td align="center">25.28</td></tr><tr><td align="left">LED</td><td align="center">0.365050</td><td align="center">17.74895</td><td align="center">    0.41</td><td align="center">15.95</td><td align="center">0.449935</td><td align="center">30.208345</td><td align="center">0.47</td><td align="center">30.34</td></tr><tr><td align="left">LLIF</td><td align="center">4.765641</td><td align="center">8.05644</td><td align="center">    4.58</td><td align="center">11.02</td><td align="center">2.533908</td><td align="center">13.013286</td><td align="center">3.40</td><td align="center">13.92</td></tr><tr class="table-tr"><td colspan="9"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

The comparison of the panels DOLS and FMOLS results.

Economics Research International

tab7

Table 7

Table 7: The Long-Term Impact of Human Capital Investment on GDP: A Panel Cointegrated Regression Analysis 