The Role of Human Capital in Guinea’s Economic Growth: An Empirical Analysis of the Education Effect On Technological Progress over the Period, 1980-2010
IJED, Vol. 11 No. 2, (2018)
This study examines the education effect on Guinea’s economic growth and empirically estimates the contribution of human capital accumulation on technological progress in Guinea’s economy from 1980 to 2010. During this period, Guinea experienced a profound mutation in its political, economic and educational system which led to the implementation of various reforms, especially targeting the economy and the education sector. The educational system as a whole went through three sets of reform programs, occasioning however a significant increase in primary school gross enrolment rate. Following a time-series approach, the study applies the Mankiw, Romer and Weil model and the Solow’s growth accounting framework by using the flow measure of education as proxy. The empirical findings reveal that education had an insignificant effect on Guinea’s economic growth. However, the growth accounting estimations show that education effect on technological progress measured by total factor productivity is proven to be significant and positive.