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THE RELATIONSHIP BETWEEN HIGHER EDUCATION AND ECONOMIC GROWTH: AN EMPIRICAL INVESTIGATION FOR BOTSWANA
(University Of Bostwana, 2021-01-19) Charowe, Karabo
The study investigates the role of higher education in economic growth for Botswana between 1981 and 2016 using the application of Auto Regressive Distributed Lag Model and Toda & Yamamoto (1995) Causality approach in Vector Autoregressive (VAR) framework. The analysis showed no evidence of long run relationship between economic growth and higher education. The results imply that higher education do not play any role in bringing economic growth to equilibrium. The empirical results of causality test indicate that there is no direction of causality between economic growth and higher education which suggests that for the case of Botswana when considering revenues without mineral proceeds economic growth is independent from higher education