Education, Financial Institutions, Inflation and Growth

Leonardo Becchetti, Iftekhar Hasan and George Mavrotas

No RP2005-72, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Our paper investigates the unexplored impact of education on inflation and of this relationship on economic growth. By using a sample of 102 countries observed on non-overlapping five-year data spells over the period 1963-2001, we find that average schooling years of the working population have a significant negative impact on inflation rates after controlling for the effects of the stance of domestic monetary policy.

Keywords: Econometric models (Economic development); Education; Financial institutions; Inflation (search for similar items in EconPapers)
Date: 2005
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