Education, openness and economic growth in India: evidence from cointegration analysis

The export-led growth hypothesis (ELGH) is an interesting field of research in applied economics. The paper investigates the role of education on the ELGH in India during 1951-2009. Using cointegration and error correction model technique, it finds the feedback effect between education and growth, and a unidirectional causality from economic growth to openness. However, it does not find any significant causality between education and openness. The findings of the paper suggest that education has a supportive role to ELGH.