Assessing the Impact of Human Capital on Economic Growth among Asean-4 Countries
| dc.contributor.author | Kanesh A/L Vanaraja | |
| dc.date.accessioned | 2026-08-24T07:58:50Z | |
| dc.date.issued | 2025 | |
| dc.description | Human capital plays a fundamental role in driving sustainable economic growth, particularly in developing and emerging economies. The research aims to examine the aspect of human capital and economic growth in four ASEAN countries namely, Malaysia, Singapore, Indonesia, and Thailand over the period 1993 to 2023. The analysis employs the panel data method to analyse the role played by the indicator of human capital like the literacy rate, life expectancy, labour force participation rate and gross capital formation in the growth of GDP. Various econometric methods are used like Fisher type Augmented Dickey-Fuller (ADF) panel unit root test, Johansen cointegration test, Autoregressive Distributed Lag (ARDL) model, Vector Error Correction Model (VECM), Granger causality test and the Fixed Effects Model (FEM). The conclusion is that labour force participation and capital formation have significant effects on economic growth relative to literacy and life expectancy as their direct impacts are rather restricted in the long run. The FEM is found as most appropriate in terms of representing country-specific heterogeneity. Irrespective of the data limitations and omission of some advanced technologies, the given study provides an insight into the necessity of the specific investments in labour, education and capital infrastructure to ensure effective sustainable growth of the economy in the state of the ASEAN. | |
| dc.identifier.uri | https://scholarhub.unimas.my/handle/123456789/1769 | |
| dc.language.iso | English | |
| dc.publisher | Universiti Malaysia Sarawak (UNIMAS) | |
| dc.relation.ispartofseries | Faculty of Economics and Business | |
| dc.subject | Human Capital, Economic Growth, ASEAN, Panel Data, ARDL, FEM, VECM | |
| dc.title | Assessing the Impact of Human Capital on Economic Growth among Asean-4 Countries | |
| dc.type | Final Year Project |