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The relationship between the level of education and the development state of a country

Author

Listed:
  • Cristian Popescu

    ()

  • Laura Diaconu

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

Abstract

The present paper underlines the fact that the resources allocated to education and the structure of the educational act must be correlated to the level of development of a country, at a certain mo-ment. For Romania, the conclusions impose a reallocation of resources towards the secondary education and a reorganization of the tertiary education. The developing countries need medium skil-led labor force because the emerging markets do not have the financial and technological capacity to sustain innovative fields with highly skilled workers. Romania is in this last situation. Yet, the educa-tional system has continued producing university graduates that the economy could not absorb. Consequently, a large part of them have emigrated, looking for a proper compensation of their contri-bution to the production system. So, the main challenges for Romania would be to match the specializations to the market demand and to substantially reduce the public spending for the tertiary education.

Suggested Citation

  • Cristian Popescu & Laura Diaconu, 2009. "The relationship between the level of education and the development state of a country," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 56, pages 475-480, November.
  • Handle: RePEc:aic:journl:y:2009:v:56:p:475-480
    as

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    References listed on IDEAS

    as
    1. Jong-Wha Lee, 2001. "Education for Technology Readiness: Prospects for Developing Countries," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 2(1), pages 115-151.
    2. Colm Harmon & Hessel Oosterbeek, 2000. "The Returns to Education: A Review of Evidence, Issues and Deficiencies in the Literature," CEE Discussion Papers 0005, Centre for the Economics of Education, LSE.
    3. Barbara Sianesi & John Van Reenen, 2000. "The Returns to Education: A Review of the Macro-Economic Literature," CEE Discussion Papers 0006, Centre for the Economics of Education, LSE.
    4. Judson, Ruth, 1998. "Economic Growth and Investment in Education: How Allocation Matters," Journal of Economic Growth, Springer, vol. 3(4), pages 337-359, December.
    5. Marc Cowling, 2000. "Are entrepreneurs different across countries?," Applied Economics Letters, Taylor & Francis Journals, vol. 7(12), pages 785-789.
    6. Judson, Ruth, 2002. "Measuring Human Capital Like Physical Capital: What Does It Tell Us?," Bulletin of Economic Research, Wiley Blackwell, vol. 54(3), pages 209-231, July.
    7. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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    Keywords

    education; growth rate; level of development;

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