Relationship between Population and Economic Growth on Education Expenditure in Malaysia: ARDL Bound Testing Approach
Hubungan di antara Populasi dan Pertumbuhan Ekonomi ke atas Perbelanjaan Pendidikan di Malaysia: Pendekatan Analisis ARDL
Keywords:
Population, Economic Growth, Education Expenditure, Malaysia, ARDL modelAbstract
The motivation of the study is to analyze the impact of population and economic growth on education expenditure in Malaysia as demographic projection forecast that the percentage of population in Malaysia is increasing overtime. The used of long time series data of Malaysia from 1970 to 2013 helps us to identify the long-run relationship between population and education expenditure using ARDL bound testing approach. The result of the bound test showed that there is a stable long-run relationship between population and economic growth on education expenditure. In fact, short-term and long-term result revealed that the population and economic growth have influences education expenditure in Malaysia. Therefore, policy implication of this study showed that the increase number of population not only will impact education expenditure, but also provide a quality human capital which contributed into the economic growth.
Motivasi kajian ini adalah untuk menganalisis kesan pertumbuhan penduduk dan ekonomi ke atas perbelanjaan pendidikan di Malaysia sebagai ramalan unjuran demografi yang peratusan penduduk di Malaysia semakin meningkat. Kajian ini menggunakan data siri jangka masa panjang dari tahun 1970 sehingga 2013 yang membantu kita untuk mengenal pasti hubungan antara penduduk dan perbelanjaan pendidikan dengan menggunakan analisis ARDL. Hasil kajian menunjukkan hubungan jangka masa panjang yang stabil antara pertumbuhan penduduk dan ekonomi ke atas perbelanjaan pendidikan. Hasil kajian jangka masa pendek dan jangka masa panjang menunjukkan bahawa pertumbuhan penduduk dan ekonomi mempengaruhi perbelanjaan pendidikan di Malaysia. Oleh yang demikian, kesan dasar kajian ini ialah dengan peningkatan jumlah penduduk, ia akan memberi kesan peningkatan ke atas perbelanjaan pendidikan dan pada masa yang sama akan meningkatkan jumlah sumber manusia yang berkualiti di samping dapat membantu pertumbuhan ekonomi.
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