بررسي رابطه عليت گرنجري بين سرمايه انساني و رشد اقتصادي در ايران

Investigation on the Granger Causality between Human Capital and Economic Growth in Iran

Conditions of countries show whether human capital is considered as an investment or consumption good? This issue is of a great importance in oil producing countries and many researchers believe that human capital has a minor effect on economic growth and it is considered as a consumption good in this group of countries. o w u In this paper it is tried to test the short and long run Granger causality between human capital and the growth of GDP and at the same time between human capital and the growth of non-oil GDP in Iran during the period of 1340-1380. According to Vector Error Correction Method (VECM) results, there exists a bilateral relationship between human capital and non-oil economic growth in short and long run, hence, human capital is considered as an investment capital. But the derived results on the relationship between human capital and economic growth shows that there is no Granger causal relationship between the variables in short run, whilst, the relationship is bilateral in long run. So, it is concluded that the human capital is considered as consumption good for the Iranian economy in short run and investment good in the long run.