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Is Education an Investment for the Future? The Impact of the Greek case on Economic Growth

Author

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  • Costas Siriopoulos

    (College of Business, Zayed University, UAE)

  • Sophia Kassapi

    (Institution for Preschool Education, Greece)

Abstract

In this paper, we study the long-run causal effect of public investments in schooling for the country of Greece by applying econometric techniques in order to investigate if there is an economically significant long-run relationship between school entrants at all levels and economic growth . Following the EU policy advice for Greece our study attempts to support the reform process of the education system as suggested, highlight those signals of ineffective investments and focus the attention of the investment policy in education on the needs of the knowledge economy, in order to guarantee the profitability of the financing funds. In an international and extremely demanding and dynamic framework, and in the European system of education and training in whole Greece is an important stakeholder that demonstrates a major embedded interest in higher academic studies and should be looked upon as such.

Suggested Citation

  • Costas Siriopoulos & Sophia Kassapi, 2019. "Is Education an Investment for the Future? The Impact of the Greek case on Economic Growth," Annals of Social Sciences & Management studies, Juniper Publishers Inc., vol. 3(5), pages 116-119, July.
    • Handle: RePEc:adp:oajasm:v:3:y:2019:i:5:p:116-119
    DOI: 10.19080/ASM.2019.03.555622
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    References listed on IDEAS

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    1. Cees Diks & Marcin Wolski, 2016. "Nonlinear Granger Causality: Guidelines for Multivariate Analysis," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 31(7), pages 1333-1351, November.
    2. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4, National Bureau of Economic Research, Inc.
    3. Diks, Cees & Panchenko, Valentyn, 2006. "A new statistic and practical guidelines for nonparametric Granger causality testing," Journal of Economic Dynamics and Control, Elsevier, vol. 30(9-10), pages 1647-1669.
    4. Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), 2017. "Regional Studies on Economic Growth, Financial Economics and Management," Eurasian Studies in Business and Economics, Springer, number 978-3-319-54112-9, March.
    5. Sophia Kassapi, 2017. "Long-Run Causal Effect of Greek Public Investments," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Regional Studies on Economic Growth, Financial Economics and Management, pages 215-229, Springer.
    6. Granger, C W J, 1969. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods," Econometrica, Econometric Society, vol. 37(3), pages 424-438, July.
    7. Jacob A. Mincer, 1974. "Schooling and Earnings," NBER Chapters, in: Schooling, Experience, and Earnings, pages 41-63, National Bureau of Economic Research, Inc.
    8. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
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    Keywords

    juniper publishers; social sciences journals; social anthropology; social policy; journal of social science; social and political science journals; journal of social science; open access; juniper publishers reivew;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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