The Relationships between Educational Investment as a Human Capital Formation and the National Economic Growth: Focusing on non-English-Speaking OECD Countries

인적자본형성으로서의 교육투자와 경제성장과의 관계 : OECD 비영어권 국가들을 중심으로

  • 김선재 (배재대학교 전자상거래학과) ;
  • 이영화 (선문대학교 영어학과) ;
  • 임광혁 (배재대학교 전자상거래학과)
  • Received : 2009.11.24
  • Accepted : 2010.01.06
  • Published : 2010.03.28


The issues on education as a human capital formation in recent years have been focused for all of the countries with emerging of the knowledge-based economy. The present study compared and analyzed the relationships between the educational investment and national economic growth of ten non-English-speaking OECD countries during 1970-2008, using Ordinary Least Square (OLS) and Seemingly Unrelated Regression Estimation (SURE) as the main analytical methods. Findings indicate that educational investment, R&D investment, and fertility rate were statistically significant in the estimation of the variables related to the human capital formation, and these elements had also positive influence on the national economic growth. The most salient factor was the fertility rate, and the R&D investment and educational investment appeared as the next factors in the national economic growth. In particular, the dimensions in the coefficient of the fertility rate showed 1.8 times of the R&D and 3.5 times of the educational investment, respectively. These results imply that educational investment, R&D investment, and the policies which promote fertility rate should be taken into account for the continuous economic growth of each country.

최근 지식기반경제로의 진입과 함께 인적자본형성으로서의 교육에 관한 문제는 모든 국가들에 있어서 중요한 관심의 대상이 되고 있다. 본 연구는 1970년-2008년 기간 동안 비영어권 OECD 10개 국가들을 대상으로 교육투자와 경제성장과의 관계를 단순회귀분석(OLS) 및 표면상무관회귀분석(Seemingly Unrelated Regression Estimation: SURE) 기법을 사용하여 추정하여 상호 비교분석 하였다. 분석 결과 인적자본의 형성과 관련된 변수들의 추정에서는 교육투자를 비롯하여 R&D투자 및 출산율 모두 통계적 유의성이 높게 나왔으며 또한 경제성장에 정(+)의 영향을 주는 것으로 나타났다. 이들 중 경제성장에 가장 큰 영향을 주는 요소로는 출산율이었으며 다음으로 R&D 투자, 교육투자 순으로 나타났다. 특히 출산율계수의 크기는 R&D 투자의 1.8배, 교육투자의 약 3.5배의 크기로 나타나고 있어 각 국가들의 지속적인 경제성장을 위해서는 R&D투자 및 교육투자뿐만 아니라 출산율 촉진정책도 동시에 고려되어져야 할 것으로 보인다.



Supported by : 한국학술진흥재단


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