Author: Sattoriy, Fayzulloh

Annotation: This study examines the relationship between human capital and economic growth, focusing on the effects of public education spending. Using the Engle-Granger Cointegration model, we analyze the link between Uzbekistan's education budget and its GDP. Results show a 1% increase in education spending leads to a 5.4% GDP growth, while a 1% GDP rise results in a 3.5% boost in education funding. This highlights the mutual benefits of investing in education for economic advancement and suggests the importance of prioritizing educational investments.

Keywords: Human Capital, Economic Growth, Public Expenditure, Engle-Granger Cointegration, GDP.

Pages in journal: 49 - 57