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Is There a Correlation Between the Level of Education and Economic Growth in a State?

Author

Listed:
  • Radu CIOBANU

    (Bucharest University of Economic Studies)

  • Adriana Florina POPA

    (Bucharest University of Economic Studies)

  • Daniela-Nicoleta SAHLIAN

    (Bucharest University of Economic Studies)

Abstract

Education plays a crucial role in a country’s economic development. It can support economic progress by increasing and developing human capital, namely qualified and trained human resources. In this study we have analysed the impact of education on economic growth in Europe and assessed the effectiveness of educational policies and measures in promoting a sustainable economic development. By understanding this connection more profoundly, relevant directions and recommendations can be obtained for the design and implementation of educational and economic policies, in view of stimulating economic growth and social prosperity. The results have shown that the economic growth indicator is influenced by the level of education in a state.

Suggested Citation

  • Radu CIOBANU & Adriana Florina POPA & Daniela-Nicoleta SAHLIAN, 2024. "Is There a Correlation Between the Level of Education and Economic Growth in a State?," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 5(2), pages 14-22, February.
    • Handle: RePEc:ahd:journl:v:5:y:2024:i:2:p:14-22
    DOI: 10.37945/cbr.2024.02.02
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    More about this item

    Keywords

    education; economic growth; investments; human capital; competencies;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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