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Education as a factor influencing the economic growth of the V4 countries

Author

Listed:
  • Eva GruÅ¡evá

    (Mendelova univerzita v BrnÄ›)

  • Veronika BlaÅ¡ková

    (Mendelova univerzita v BrnÄ›)

Abstract

The phenomenon of the Fourth Industrial Revolution fundamentally affects the essence of the functioning of industry, trade and many other parts of the economy of developed countries. New and developing disciplines will need workers with a high-quality education matching the needs and demands of technological development. In order to evaluate education as a determinant of economic growth, multivariate regression models were created for each of the V4 countries separately. In this work, it was examined whether the variables related to primary, secondary and especially tertiary education affect economic growth. Data for V4 countries come from 2000-2020. From the estimated models, it can be concluded that in all the countries selected there is a positive impact of tertiary education on the economic situation of the country.

Suggested Citation

  • Eva GruÅ¡evá & Veronika BlaÅ¡ková, 2022. "Education as a factor influencing the economic growth of the V4 countries," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 24(2), pages 58-69, December.
    • Handle: RePEc:rse:wpaper:v:24:y:2022:i:2:p:58-69
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    References listed on IDEAS

    as
    1. John G. Fernald & Charles I. Jones, 2014. "The Future of US Economic Growth," American Economic Review, American Economic Association, vol. 104(5), pages 44-49, May.
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    More about this item

    Keywords

    Education; Industry 4.0; GDP per capita; economic growth; Visegrad Group;
    All these keywords.

    JEL classification:

    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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