The impact of education expenditures on economic growth: empirical estimation

Chekina, Viktoriia; Vorhach, Olena

doi:10.15407/econindustry2020.03.096

Cited by 9 publications

(2 citation statements)

References 11 publications

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“…Some empirical works focused on education as an indicator of human capital in assessing the human capital-growth nexus. Some of these studies include the works of Chekina and Vorhach (2020) who conducted a study on the effect of education on the level of economic development over the periods 2015-2019 in the Eurozone. The results of the impact of higher education financing on GDP growth showed that there is an increasing trend with the higher expenditure on education corresponding to higher population qualification and a larger size of GDP.…”

Section: Literature Reviewmentioning

confidence: 99%

Revisiting the human capital–economic growth nexus in Africa

Wirajing

Nchofoung

Etape³

2023

SN Bus Econ

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This study examines the impact of human capital on economic growth in 48 African countries from 2000 to 2019. The methodological approach involves the system GMM technique to address the problem of potential sources of endogeneity. The findings reveal that economic growth in Africa is positively influenced by human capital development. The findings also indicate that both the male and the female genders for human capital development are important for the economic growth of African countries. Similarly, internet penetration and foreign direct investments interact with human capital to produce positive net effects on economic growth. The study recommends policymakers attribute more resources to the education and health sectors to enhance human capital development as a prerequisite to ensure a stable economic growth.

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Section: Literature Reviewmentioning

confidence: 99%

Revisiting the human capital–economic growth nexus in Africa

Wirajing

Nchofoung

Etape³

2023

SN Bus Econ

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“…Chekina & Vorhach (2020) [5] have made an empirical analysis of European countries and concluded that an increase in the level of personnel qualifications contributes to an increase in GDP per capita, also the amount of higher education funding is increasing. The trend is typical for the countries of Europe as a whole and is not pronounced for each country separately.…”

Section: Literature Reviewmentioning

confidence: 99%

The Efficiency of Individual and Public Spending on Higher Education in Oecd Countries and in Ukraine

Hryhorash¹,

Bocharov²,

Бондар³

et al. 2022

ФКДПТП

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The article is devoted to the analysis of the efficiency of higher education funding from the perspective of higher education applicants (cost of education) and from the perspective of the state (budget expenditures, investments in preparation of specialists).The article contains the main indicators of socioeconomic development of the OECD countries and Ukraine. The analysis has shown that in Ukraine the amount of higher education expenditures as a percentage of GDP has an average value compared to the OECD countries, while this amount in monetary terms is significantly lower than in other countries.The efficiency of higher education costs for the individual and expenditures for the state in the OECD countries and in Ukraine have been evaluated. The efficiency of individual costs of higher education is calculated using the discounted cash flow method, applied to the cost of education and the difference in wages between qualified and unqualified personnel. The efficiency of public spending on higher education (investment in the training of specialists) is calculated using the discounted cash flow method applied to the share of public spending on higher education and GDP growth generated by labor with better skills. The results of the calculations have shown that the efficiency of state expenditures on higher education is higher than the efficiency of individual costs.

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Achieving sustainable development in Sub‐Saharan Africa: Do human capital and foreign direct investment matter?

Onatunji

2024

Manage Decis Econ

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Over the past few decades, there has been a noticeable development of interest among scholars and policymakers worldwide regarding the prominent drivers of sustainable development. The role of human capital and foreign direct investment (FDI) in fostering sustainable development, however, has been largely neglected by policymakers and scholars, despite recent emphasis on FDI amidst current economic performance worldwide, particularly in developing countries. This study empirically investigates the effect of human capital and FDI on sustainable development in sub‐Saharan Africa (SSA) spanning 1991–2021. The empirical analysis was implemented by deploying different techniques, such as feasible generalized least squares, panel corrected standard errors, and Lewbel two‐stage least square techniques, with the panel quantile regression approach as a robustness check. The empirical outcomes show that improvement in human capital via educational attainment fosters economic expansion, employment opportunities, and poverty reduction, whereas an increase in health human capital undermines sustainable development in SSA. The findings also reveal that increasing FDI flows to priority sectors in the region are critical for enhancing human capital, thus stimulating economic performance, job opportunities, and poverty alleviation in SSA. This study puts forward important policy implications for achieving sustainable development.

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The impact of education expenditures on economic growth: empirical estimation

Cited by 9 publications

References 11 publications

Revisiting the human capital–economic growth nexus in Africa

Revisiting the human capital–economic growth nexus in Africa

The Efficiency of Individual and Public Spending on Higher Education in Oecd Countries and in Ukraine

Achieving sustainable development in Sub‐Saharan Africa: Do human capital and foreign direct investment matter?

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