Economic implications of Education in Southeast Europe-Reference-Cited by-同舟云学术

Economic implications of Education in Southeast Europe

Published:2020-08-31 Issue:2 Volume:8 Page:59-68
ISSN:2334-8496
Container-title:International Journal of Cognitive Research in Science Engineering and Education
language:en
Short-container-title:IJCRSEE

Author:

Popović Goran¹^ORCID,Erić Ognjen¹^ORCID,Bjelić Jelena²^ORCID

Affiliation:

1. University of Banja Luka, Faculty of Economics, Bosnia and Herzegovina

2. Indirect Taxation Authority, Bosnia and Herzegovina

Abstract

This research covers an evaluation of the impact of education system, educational, scientific and other institutions on the economic growth in nine countries of Southeast Europe (SEE). The main hypothesis is the following: GDP pc growth is significant and positively correlates with the indicators of the state of education system. In addition to educational institutions, there are other social and economic indicators on which education and science depend, namely the budget and fiscal system, corruption and protection of intellectual property rights, which also have positive and significant impact on GDP pc. The stated fields are interactive. Besides GDP pc, the analysis includes another 11 variables. Factor analysis for the variables grouped into two factors shows high significance. The F-test result shows significance of the regression model. ANOVA test, too, confirms the aforementioned significance. Both variables (the first and second factor) have positive direction with GDP pc. The results show significance of the institutional-educational variable, while the impact of educational population in the model is not sufficiently significant. Econometric analysis has mainly confirmed the initial hypotheses.

Publisher

FSFEI HE Don State Technical University

Subject

Cognitive Neuroscience,Experimental and Cognitive Psychology,Education

Link

https://scindeks-clanci.ceon.rs/data/pdf/2334-847X/2020/2334-847X2002059P.pdf

Reference24 articles.

1. Astakhova, K. V., Korobeev, A. I., Prokhorova, V. V., Kolupaev, A. A., Vorotnoy, M. V., & Kucheryavaya, E. R. (2016). The role of education in economic and social development of the country. International Review of Management and Marketing, 6(1S). Available at: https://www.econjournals.com/index.php/irmm/article/view/1865/pdf;

2. Benos, N. (2010). Education policy, growth and welfare. Education Economics, 18(1), 33-47. https://doi.org/10.1080/09645290802500263;

3. Bouhajeb, M., Mefteh, H., & Ammar, R. B. (2018). Higher education and economic growth: the importance of innovation. Atlantic Review of Economics: Revista Atlántica de Economía, 1(2), 4. Available at: http://aroec.org/ojs/index.php/ARoEc/article/view/58;

4. David, H., Goldin, C., & Katz, L. F. (2020). Extending the Race between Education and Technology. NBER Working Paper, (w26705). https://doi.org/10.3386/w26705;

5. Gouveia, S., & Santos, M. (2018). Export Performance of Southeastern European Countries. In Economy, Finance and Business in Southeastern and Central Europe (pp. 195-211). Springer, Cham. https://doi.org/10.1007/978-3-319-70377-0_14;