IDEAS home Printed from https://ideas.repec.org/a/ers/ijebaa/vivy2016i2p54-69.html
   My bibliography  Save this article

The Role of Education in Stimulating Economic Development in the Framework of Europe 2020 Strategy: Evidence from South-Eastern Europe

Author

Listed:
  • Monica Raileanu Szeles
  • Ileana Tache

Abstract

A new model of economic development focused on the encouragement of smart, inclusive and sustainable economic growth is the core of the Europe 2020 strategy. Education is widely acknowledged as being a key factor leading to economic growth and economic development, in the long term. But the impact of different kind of achievements in education on growth has little empirical evidence, especially when examining the South-Eastern European countries. This paper analyses the role played by different types of educational achievements, aggregated at the macroeconomic level, beside a set of other potential socio-economic drivers, on the economic growth and quality of life, in the South Eastern Europe, based on the Eurostat panel dataset. A number of panel data regression models using the GMM and FGLS estimators allow answering our research questions. Our empirical results indicate what policy measures are the most effective to target both the economic growth and quality of life.

Suggested Citation

  • Monica Raileanu Szeles & Ileana Tache, 2016. "The Role of Education in Stimulating Economic Development in the Framework of Europe 2020 Strategy: Evidence from South-Eastern Europe," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 54-69.
  • Handle: RePEc:ers:ijebaa:v:iv:y:2016:i:2:p:54-69
    as

    Download full text from publisher

    File URL: http://www.ijeba.com/documents/papers/2016_IV_2_4.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. repec:idb:brikps:65998 is not listed on IDEAS
    2. Judson, Ruth, 1998. "Economic Growth and Investment in Education: How Allocation Matters," Journal of Economic Growth, Springer, vol. 3(4), pages 337-359, December.
    3. Monica Răileanu-Szeles, 2015. "Explaining the Dynamics and Drivers of Financial Well-Being in the European Union," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 120(3), pages 701-722, February.
    4. Diana-Mihaela Pociovalisteanu & Emilian M. Dobrescu, 2009. "The Role of Structural Funds in Economic and Social Cohesion Process," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 27-36.
    5. David M. Drukker, 2003. "Testing for serial correlation in linear panel-data models," Stata Journal, StataCorp LLC, vol. 3(2), pages 168-177, June.
    6. Frankema, Ewout, 2009. "The Expansion of Mass Education in Twentieth Century Latin America: A Global Comparative Perspective," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 27(3), pages 359-396, January.
    7. David Piachaud, 2013. "Social protection, redistribution and economic growth," Development Southern Africa, Taylor & Francis Journals, vol. 30(1), pages 24-38, March.
    8. Ernesto Talvi & Pablo Serra & Nancy Birdsall & Howard Pack & Andrés Solimano & Barbara Stallings & Michael Gavin & Richard H. Sabot & Nora Lustig & Humberto Petrei & Sebastián Edwards & Ricardo Hausma, 1997. "Pathways to Growth: Comparing East Asia and Latin America," IDB Publications (Books), Inter-American Development Bank, number 65998 edited by Nancy Birdsall & Frederick Jaspersen, February.
    9. Pociovalisteanu Diana-Mihaela & Thalassinos Eleftherios, 2009. "The Structural Funds and the Economic and Social Cohesion Process," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 313-330, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. T.V. Shatkovskaya & N.G. Romanenko & Y.A. Naumenko & E.A. Parshina, 2017. "The Problem of Individualization of Legal Entities in Terms of Innovative Development of the Russian Federation and the European Union Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 162-171.
    2. Zinaida Petrovna Zamaraeva & Konstantin Anatolievich Antipyev & Stanislav Ivanovich Reutov & Galina Aleksandrovna Telegina & Valeria Andreevna Ledentsova & Ksenia Andreevna Voronova, 2018. "The Basic Concept of the Resource-Potential Approach in Social Security in Russia and International Experience," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 417-433.
    3. Adijati Utaminingsih & Sony Heru Priyanto & John J.O.I. Ihalauw & Linda Kusuma, 2020. "Green Business Behaviour, Green Technologies, and Sustainability in SMEs," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 417-424.
    4. Grigory Viktorovich Prytkov & Natalia Yurievna Tsvetus & Artem Alexandrovich Balyakin & Andrey Sergeevich Malyshev & Sergey Borisovich Taranenko, 2017. "Scientific Cooperation between Russia and the EU in the Development and Use of Large Research Infrastructure," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 338-353.
    5. Evgenij Petrovich Vasilyev & Irina Vladimirovna Filimonenko & Tatyana Petrovna Likhacheva & Irina Rudolfovna Rouiga, 2017. "The Rationale for Increasing the Theoretical Understanding on the Basic Concepts of Economic Theory," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 386-407.
    6. Huseyin Ozdeser, 2018. "Separation Process of Britain From the EU and its Impacts on Both Sides," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 14-23.
    7. Irina Ilina & Elena Kryukova & Elena Potekhina & Elena Abyzova & Irina Shadskaja, 2017. "Russian Lectures at the Crossroads of Reforms: Strategies of Survival and Adaptation," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 86-97.
    8. Prof. Dr. Ion Criveanu & Dr. Ec. Loredana Iordache, 2015. "Establishing Human Resources Strategies and Policies Correlating with Company's Objectives," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 3-10.
    9. Lisa Kustina & Junedi, 2017. "ASEAN Economic Community Impact on SMSs: A Regional Case Study," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 432-438.
    10. Aleksey Vladimirovich Gribanov & Vladimir Vladimirovich Mitrokhin & Mariya Viktorovna Vilkova, 2017. "Innovation as the Main Factor for Sustainable Development of a Commercial Bank," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 408-416.
    11. Przemyslaw Pluskota, 2023. "Comparative Analysis of the Use of Financial Instruments – Regional Perspective," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 602-611.
    12. Monica Răileanu Szeles & Mihaela Simionescu, 2020. "Regional Patterns and Drivers of the EU Digital Economy," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 150(1), pages 95-119, July.
    13. Malgorzata K. Guzowska & Barbara Kryk, 2020. "Implementation of the Social Goals of the Europe 2020 Strategy by EU Member States," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 58-74.
    14. repec:ers:journl:v:v:y:2017:i:1:p:49-62 is not listed on IDEAS
    15. V.A. Slepov & V.K. Burlachkov & T.P. Danko & M.E. Kosov & I.I. Volkov & N.V. Ivolgina & V.D. Sekerin, 2017. "Model for Integrating Monetary and Fiscal Policies to Stimulate Economic Growth and Sustainable Debt Dynamics," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 457-470.
    16. Irina Solovjova & Ramona Rupeika-Apoga & Inna Romanova, 2018. "Competitiveness Enhancement of International Financial Centres," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 5-17.
    17. repec:ers:journl:v:vi:y:2018:i:1:p:14-23 is not listed on IDEAS
    18. Oxana Leonidovna Chulanova & Gulnara Hamitovna Kucherenko & Dmitry Viktorovich Chulanov & Andrey Vladimirovich Kirillov & Aleksandr V. Melnichuk, 2017. "Crowd-Technology in the Selection of Personnel," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 380-397.
    19. Hristina Blagoycheva, 2016. "Employment and the 'Working Poor' Phenomenon in the EU," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 3-18.
    20. I Made Adnyana & Hasanudin & Andini Nurwulandari, 2020. "Empirical Examination of Intersectoral Linkages Between Tourism and Regional Economy by Using the Social Accounting Matrix," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 292-298.
    21. O.B. Ivanova & E.D. Kostoglodova & S.S. Galazova & I.G. Prokopenko, 2017. "Increasing the Budget Costs' Efficiency as a Factor of State Finance Stabilization," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 120-127.
    22. Mirela Cristea & Eleftherios Thalassinos, 2016. "Private Pension Plans: An Important Component of the Financial Market," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 110-115.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:ijebaa:v:iv:y:2016:i:2:p:54-69. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ijeba.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.