Estimation of the education influence on the population income

Adalat Muradov, Yadulla Hasanli and Fargana Musayeva

MPRA Paper from University Library of Munich, Germany

Abstract: From the beginning of the 20th century, forming the knowledge economy, creating the human capital and providing sustainable development on basis of the development of education arrange the priorities of the economic policy in the advanced countries of the world. Some researchers show that if all other factors are constant and the portion of population having the high education in structure of economically active population grows, it will raise the labour productivities and wages of all workers including the workers having the lower education level too. In this study international research methods have been investigated for the qualitative evaluation of educational system and comparison with the achievements of other countries. Based on world countries data, authors have comparatively analyzed the indicators characterizing the welfare of population such as income and wages influenced by the education. In the study the mode of life of a population, including the relationship between the income of the population and level of their educations have been investigated through the econometric modeling. Models have been realized by means of Eviews Software on based of data for the years 1996-2017.

Keywords: education; income; mean years of schooling; sustainable development; wages (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Date: 2019, Revised 2019
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