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Education and Economic Development: Evidence from the European Countries

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  • Vodã Ana-Iolanda

    ()
    ("Alexandru Ioan Cuza" University of Iaºi, Faculty of Economics and Business Administration)

  • Chiriac Cãtãlin

    ()
    ("Alexandru Ioan Cuza" University of Iaºi, Faculty of Economics and Business Administration)

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    Abstract

    This paper aims analyzing the importance of education as a substantial determinant for an individual ability to obtain income and of economic growth. The first part of the article underlines the importance of investment in education argued by the fact that abilities and knowledge tend to increase productivity, generating in this way higher potential incomes. In the second part of the paper we performed a comparative analysis of thirty – three European Countries at every level of education i.e. tertiary, secondary and primary (lower). Our analyses shows that the tertiary aptitudes are the ones which matter the most in terms of growth in the case of Central and East European nations.

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    Bibliographic Info

    Article provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.

    Volume (Year): XII (2012)
    Issue (Month): 2 (Decembre)
    Pages: 567-572

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    Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:567-572

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    Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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    Keywords: development; education; institutions;

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