Volume 16, Issue 3 (2016)                   QJER 2016, 16(3): 181-207 | Back to browse issues page

‎ 20.1001.1.17356768.1395.16.3.8.5

XML Persian Abstract Print

Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
Gohari L, Salimifar M, Aboutorabi M A. The Effect of Financial Development on Human Capital in Iran. QJER 2016; 16 (3) :181-207
URL: http://ecor.modares.ac.ir/article-18-9360-en.html
The Effect of Financial Development on Human Capital in Iran
Lida Gohari * 1, Mostafa Salimifar2 , Mohammad Ali Aboutorabi3
1- Ph.D. Candidate in Economics, Faculty of Administrative Sciences and Economics, University of Mazandaran, Babolsar, Iran
2- Professor of Economics, Faculty of Administrative Sciences and Economics, Ferdowsi University of Mashhad
3- Ph.D. in Economics, Ferdowsi University of Mashhad
Abstract:   (6404 Views)
Since financial development can contribute to the development of human capital, this paper examines the effect of financial development on human capital formation in Iran during 1973-2010. Regarding financial development as a multifaceted concept, this article first deals with constructing a multidimensional index, including ratio of M2to GDP, ratio of private debt to banks to GDP, ratio of central bank assets to GDP and  the ratio of assets of deposit-accepting banks to GDP, using principal components analysis with SAS. Then, using Auto-Regressive Distributed Lags (ARDL) model, the effect of financial development on human capital is estimated through Microfit 4. The results suggest that financial development has significant positive effect on human capital in the short- and long term, and the magnitude of influence is higher in the long term than short term.  
Keywords: Financial Development, Human Capital, Auto-Regressive Distributed Lags
Full-Text [PDF 906 kb]   (4516 Downloads)    
Article Type: Research Paper | Subject: C22 - Time-Series Models; Dynamic Quantile Regressions
Received: 2013/12/25 | Revised: 2016/11/8 | Accepted: 2014/11/12 | Published: 2016/10/22
Add your comments about this article : Your username or Email:
CAPTCHA
Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.