Quality of Education and Economic Growth – Evidence from Southeast European Countries

Albena Vutsova and Antoniya Baltova
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Albena Vutsova: Faculty of Economics and Business Administration, Sofia University, Sofia, Bulgaria
Antoniya Baltova: Faculty of Economics and Business Administration, Sofia University, Sofia, Bulgaria

Economic Alternatives, 2024, issue 1, 86-98

Abstract: This study seeks to ascertain the importance of educational quality over quantity in influencing economic growth, with a special focus on Southeast European countries. Traditional approaches have often emphasized the quantity of education, primarily the years of schooling. However, emerging evidence points towards the quality of education, represented by cognitive skills, as a more significant predictor of economic prosperity. The research evaluates global educational datasets that measure both qualitative and quantitative aspects of human capital. A notable emphasis is placed on the Harmonized Learning Outcomes (HLO) database by the World Bank, which reflects educational achievements, serving as a proxy for the quality of human capital.

Keywords: economic growth; human capital; Southeast Europe; Educational Quality; Cognitive Skills; HLO Index (search for similar items in EconPapers)
JEL-codes: I21 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:eajour:y:2024:i:1:p:86-98

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