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Education and Economic Development: Evidence from the European Countries

Author

Listed:
  • Vodã Ana-Iolanda

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

  • Chiriac Cãtãlin

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

Abstract

This paper aims analyzing the importance of education as a substantial determinant for an individual ability to obtain income and of economic growth. The first part of the article underlines the importance of investment in education argued by the fact that abilities and knowledge tend to increase productivity, generating in this way higher potential incomes. In the second part of the paper we performed a comparative analysis of thirty – three European Countries at every level of education i.e. tertiary, secondary and primary (lower). Our analyses shows that the tertiary aptitudes are the ones which matter the most in terms of growth in the case of Central and East European nations.

Suggested Citation

  • Vodã Ana-Iolanda & Chiriac Cãtãlin, 2012. "Education and Economic Development: Evidence from the European Countries," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 567-572, Decembre.
  • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:567-572
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    More about this item

    Keywords

    development; education; institutions;

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate

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