Impactul cheltuielilor cu educația asupra creșterii economice: exemplul României

Abstract

Education is considered one of the main factors of economic growth. This paper analyzes the relationship between education expenditure and economic growth in Romania for the period between 2000 to 2019. In our investigation we used GPD per capita for economic growth and public expenditure on education per capita. Data series were obtained from UNESCO database and processed using Eviews. First of all, I determined whether the data series are stationary, using Augmented Dickey-Fuller (ADF) and Phillips-Perron test. Then we checked with Johansen method the cointegration relationship between education expenditure and GDP. The cointegration equation obtained from the Johansen test indicates that, on average, in the long run the variable L_EDU has a positive impact on L_PIB, caeteris paribus. In the end using the Wald test we showed the short term relationship between the two variables. JEL: I25, C01, C51, H52, P44