Effect of Public Expenditures on Education on Economic Growth in Morocco : An ARDL Model

Abstract

Economists, researchers, and policymakers have long been intrigued by the role of education as a critical component of human capital. To enhance human capital, developing countries' governments are dedicating more resources to education. A study was conducted using an Autoregressive Scaled Lag Model (ARDL) spanning from 1973 to 2012 to investigate the relationship between public spending on education and economic growth in Morocco. The empirical analysis has demonstrated a positive correlation between public expenditure on education and economic growth. The study's findings indicate that public expenditure on education affects economic growth after a certain time lag.