IDEAS home Printed from https://ideas.repec.org/a/scm/ejafbu/v3y2015i1p33-47.html
   My bibliography  Save this article

Economics Of Human Capital: The Role Of Secondary And Tertiary Education In The Post-Crisis Economic Development Of The European Union

Author

Listed:
  • Bogdan COPCEA

    () (West University of Timi?oara, Romania)

  • Raul ERDEI

    () (West University of Timi?oara, Romania)

Abstract

From the perspective of educational systems, formation and development of human capital are considered key determinants of economic growth in both literature and empirical studies. Starting from the neoclassical exogenous growth model of Solow (adjusted for human capital) and the endogenous growth model developed by Mankiw, Romer and Weil, this paper aims to assess how education affects economic development in four groups of states within the European Union. Also, the research aims to determine how government post-crisis policies in the field of education, can influence the quality of human capital and thus economic growth. By developing three models that use as independent variables various types of indicators that are related to education and based on an analysis of panel data, it follows that secondary and tertiary education affect economic growth differently. Thus, mainly there is a positive impact of tertiary education attainment rate and a negative impact of secondary school attainment rate on the growth of GDP per capita at the EU level, but the results differ when analyzing different groups of countries within the union.

Suggested Citation

  • Bogdan COPCEA & Raul ERDEI, 2015. "Economics Of Human Capital: The Role Of Secondary And Tertiary Education In The Post-Crisis Economic Development Of The European Union," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 3(1), pages 33-47, February.
  • Handle: RePEc:scm:ejafbu:v:3:y:2015:i:1:p:33-47
    as

    Download full text from publisher

    File URL: http://www.accounting-management.ro/index.php?pag=list&year=2015
    Download Restriction: no

    More about this item

    Statistics

    Access and download statistics

    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:scm:ejafbu:v:3:y:2015:i:1:p:33-47. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Liviu Scutariu). General contact details of provider: http://edirc.repec.org/data/feusvro.html .

    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.

    We have no references for this item. You can help adding them by using 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.