The Role of Education on Economic Growth: An Empirical Analysis of Central and Eastern European Countries

Yvesa Jusaj, Valmir Zogaj, Gadaf Rexhepi () and Hyrije Abazi-Alili ()
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Yvesa Jusaj: South East European University
Valmir Zogaj: South East European University
Gadaf Rexhepi: South East European University
Hyrije Abazi-Alili: South East European University

A chapter in Navigating Economic Uncertainty - Vol. 1, 2025, pp 223-238 from Springer

Abstract: Abstract The aim of this study is to empirically investigate the relationship between education and economic growth in Central and Eastern European countries for the time period 2010–2022. The rationale behind choosing CEE countries is the gap in the literature exploring the role of education on economic growth in Central and Eastern European countries as a whole. Various econometric techniques, such as Pooled Ordinary Least Squares (OLS), Fixed Effects model, Random Effects model, and Hausman-Taylor IVs model, have been employed. The findings show a positive relationship between economic growth, total government expenditure on education, expenditure on tertiary education, and employment to population ratio. On the other hand, there exists a negative relationship with government expenditure per student on tertiary level, primary school enrollment, tertiary school enrollment, and unemployment. Therefore, governments, political parties, civil society, and social workers should support quality education which equip young people with the skills and the necessary knowledge to deal with rapid social, technological, and economic changes.

Keywords: Education; Economic growth; Expenditures; Government; Population; H52; I25 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-73506-6_13

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DOI: 10.1007/978-3-031-73506-6_13

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