ECONOMIC IMPLICATIONS OF EDUCATION IN SOUTHEAST EUROPE Cover Image

ECONOMIC IMPLICATIONS OF EDUCATION IN SOUTHEAST EUROPE
ECONOMIC IMPLICATIONS OF EDUCATION IN SOUTHEAST EUROPE

Author(s): Goran Popović, Ognjen Erić, Jelena Bjelić
Subject(s): State/Government and Education
Published by: Удружење за развој науке, инжењерства и образовања
Keywords: Education system; institutions; budget; Southeast Europe; Economic growth;GDP;

Summary/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.

  • Issue Year: 8/2020
  • Issue No: 2
  • Page Range: 59-68
  • Page Count: 10
  • Language: English
Toggle Accessibility Mode