POVERTY, EDUCATION AND ECONOMIC GROWTH: A CASE STUDY OF WESTERN BALKAN COUNTRIES

Iges Banda, Zainab Williams-Adeyanju and Dea Skrame
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Iges Banda: Epoka University, Tirana, Albania
Zainab Williams-Adeyanju: Epoka University, Tirana, Albania
Dea Skrame: Epoka University, Tirana, Albania

Journal of Financial and Monetary Economics, 2022, vol. 10, issue 1, 30-43

Abstract: Earlier studies have shown the impact of education in poverty alleviation and the attainment of economic growth in developed economies. This paper analyses the effect of poverty and education on the economic growth of Western Balkan countries: Albania, Bosnia and Herzegovina, Croatia, Kosovo, Montenegro, Republic of North Macedonia and Serbia. Both quantitative and qualitative methods were used in the analysis (graphical analysis, descriptive statistics and EViews econometric model). The data were sourced from World Bank for the period between 1990- 2020 and findings from the econometric model show an inverse relationship between poverty and economic growth and a positive relationship between education and economic growth in Western Balkan countries. The results further buttresses the need for better investment in education in order to improve the skills of the labor force, boost productivity and invariably bring about sustainable economic growth.

Keywords: Poverty; Education; Economic Growth; Western Balkan; Income inequality (search for similar items in EconPapers)
JEL-codes: I24 I32 J24 (search for similar items in EconPapers)
Date: 2022
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