Does the Post-Socialist Past Determine the Relationship between GDP per Capita and Education? Evidence from Europe

Zsuzsanna Banász () and Vivien Valéria Csányi ()
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Zsuzsanna Banász: MTA-PE Budapest Ranking Research Group, Veszprém, Hungary
Vivien Valéria Csányi: MTA-PE Budapest Ranking Research Group, Veszprém, Hungary

Acta Oeconomica, 2018, vol. 68, issue 4, 573-589

Abstract: Education is one of the key factors of economic growth. Despite the huge amount of researches investigating the relationship between education and GDP as a proxy of well-being, to the best of our knowledge, none of these studies examined a group of post-socialist countries comparing with not-post-socialist countries. This paper aims to fill this gap. We examine the correlation between growth and education with panel data evidence for 18 post-socialist (PS) countries and 16 developed market economies (DME) over the 1990–2014 period. The goal of this paper is to test two hypotheses: (i) The relationship between GDP per capita and tertiary education’s enrolment rate is stronger in the post-socialist countries than in other countries. (ii) In the post-socialist countries, the relationship between GDP per capita and tertiary education’s enrolment rate is stronger than the relationship between GDP per capita and any other level of education. Correlation analyses confirmed both hypotheses. Our findings suggest that the patterns of relationship between GDP and measures of tertiary education are different for PS and DME countries and would be interesting to observe when and how the gap between the patterns disappears.

Keywords: education; economic wealth; European countries; post-socialist past; developed market economies; correlation (search for similar items in EconPapers)
JEL-codes: I25 O57 P20 (search for similar items in EconPapers)
Date: 2018
Note: This publication/research has been supported by the European Union and Hungary and cofinanced by the European Social Fund through the project EFOP-3.6.2-16-2017-00017, titled “Sustainable, intelligent and inclusive regional and city models” and MTA-PE Budapest Ranking Research Group (Grant No. 16208).
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