ECONOMICS OF HUMAN CAPITAL: THE ROLE OF SECONDARY AND TERTIARY EDUCATION IN THE POST-CRISIS ECONOMIC DEVELOPMENT OF THE EUROPEAN UNION

Bogdan Copcea () and Raul Erdei ()
Additional contact information
Bogdan Copcea: West University of Timi?oara, Romania
Raul Erdei: West University of Timi?oara, Romania

European Journal of Accounting, Finance & Business, 2015, vol. 3, issue 1, 33-47

Abstract: From the perspective of educational systems, formation and development of human capital are considered key determinants of economic growth in both literature and empirical studies. Starting from the neoclassical exogenous growth model of Solow (adjusted for human capital) and the endogenous growth model developed by Mankiw, Romer and Weil, this paper aims to assess how education affects economic development in four groups of states within the European Union. Also, the research aims to determine how government post-crisis policies in the field of education, can influence the quality of human capital and thus economic growth. By developing three models that use as independent variables various types of indicators that are related to education and based on an analysis of panel data, it follows that secondary and tertiary education affect economic growth differently. Thus, mainly there is a positive impact of tertiary education attainment rate and a negative impact of secondary school attainment rate on the growth of GDP per capita at the EU level, but the results differ when analyzing different groups of countries within the union.

Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.accounting-management.ro/index.php?pag=list&year=2015 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:scm:ejafbu:v:3:y:2015:i:1:p:33-47

Access Statistics for this article

European Journal of Accounting, Finance & Business is currently edited by Stefan cel Mare University of Suceava, West University of Timisoara

More articles in European Journal of Accounting, Finance & Business from "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration Contact information at EDIRC.
Bibliographic data for series maintained by Liviu Scutariu ( this e-mail address is bad, please contact ).