THE EFFECTS OF EDUCATION ON THE ECONOMIC GROWTH OF CAMEROON

ABSTRACT

The study examines the education on the economic growth of Cameroon. The model specifies economic growth measured by gross domestic product as dependent on education proxy to expenditure on education, school enrolment, school attainment and educational quality. Annual time series data from 1985-2017 was the sourced using secondary data and analyzed using Ordinary Least Squared (OLS) estimation technique. It was evidenced that education has a significant positive effect on economic growth. school enrolment and school attainment have a significant effect on the economy where as expenditure on education and educational quality have no significant economy on economic growth of the country. The study demonstrates that increasing education reaps the static and dynamic benefits, stimulating rapid national economic growth. Thus recommendations that the government should increase it its expenditure allocation to the education and human capital development. This could be done through provision of proper education facilities such as schools colleges and universities, training and employing more teachers, ensuring access to education to all citizens, reduction of the cost burden to the parents/guardian and expanding education to the marginalized groups.

KEYWORDS: expenditure on education, school enrolment, school attainment and educational quality and gross domestic product