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Return on investment in education. Case study on education in Romania

Author

Listed:
  • Pribac Loredana Ioana

    (“Vasile Goldis” Western University of Arad)

  • Anghelina Andrei

    (“Vasile Goldis” Western University of Arad)

  • Blaga Radu Lucian

    (“Vasile Goldis” Western University of Arad)

Abstract

The aim of this study is to develop, test and validate based on a conceptual research model, the influence of education on the GDP/capita, starting from relevant theories and empirical models from literature or implementing additional impact models and variables. Building on the model developed by Mincer (1995) on the yield rates of investment in education, we applied econometric models for Romania, for the period 1960-2010. The results led to a main conclusion, namely, the importance of investment in education is undeniable, it has positive effect on the economic growth of Romania.

Suggested Citation

  • Pribac Loredana Ioana & Anghelina Andrei & Blaga Radu Lucian, 2016. "Return on investment in education. Case study on education in Romania," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 26(1), pages 26-39, March.
    • Handle: RePEc:vrs:suvges:v:26:y:2016:i:1:p:26-39:n:3
    DOI: 10.1515/sues-2016-0003
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    References listed on IDEAS

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    Cited by:

    1. Blaga Radu Lucian & Blaga Alexandru, 2016. "Price Determination for Educational Services Based on the Investments in Education," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 26(4), pages 78-93, November.
    2. Adekoya Adenuga Fabian & Razak Nor Azam Abdul, 2016. "The Link Between Economic Growth, Crime and Deterrence Measures in Nigeria," Studia Universitatis „Vasile Goldis” Arad – Economics Series, Sciendo, vol. 26(4), pages 24-40, November.
    3. Maricica-Dănuta Bîtcă (Bunghez) & Gicu-Valentin Dogaru & Razvan-Ion Chitescu, 2020. "Reform of Public Education System in Romania," Book chapters-LUMEN Proceedings, in: Marcin Waldemar STANIEWSKI & Valentina VASILE & Adriana Grigorescu (ed.), International Conference Innovative Business Management & Global Entrepreneurship (IBMAGE 2020), edition 1, volume 14, chapter 27, pages 369-379, Editura Lumen.

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