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Pesaran, M. H., & Shin, Y. (1999). An Autoregressive Distributed Lag Modelling Approach to Cointegration Analysis. In S. Storm (Ed.), Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch Centennial Symposium (pp. 1-33). Cambridge University Press.

has been cited by the following article:

• TITLE: Effects of Human Capital Expenditures on Non-Oil Sector Growth in the Republic of Congo

  AUTHORS: Christelle Inès Leticia Ndombi Ondze

  KEYWORDS: Public Expenditure on Health, Public Expenditure on Education, Non-Oil Sector Growth, Republic of Congo, ARDL Process

  JOURNAL NAME: Modern Economy, Vol.12 No.12, December 6, 2021

  ABSTRACT: This paper explores the relationship between human capital spending and non-oil sector growth in one direction only: from spending to non-oil sector growth. Using the theoretical framework developed by Knowles and Owen (1995), this study shows that spending does not influence non-oil sector growth. This result was obtained by estimating an Autoregressive Distributed Lag (ARDL) process. The data used were extracted from the World Bank’s databases and are annual (1996 to 2018). We used several indicators of development in the world and a governance indicator among those designed by Kaufmann et al. (2005). From a theoretical point of view, this result does not support the theory of endogenous growth. On the other hand, it is an empirical contribution to the literature that exists to date on the causes of non-oil sector growth in Congo. Moreover, an economic policy implication has been formulated on the basis of this result.