Session Information
ERG SES G12, Education, Management and Teachers' Practice
Paper Session
Contribution
In this paper our question is, on the premises of sustainable development, whether investment in education promotes economic growth, or vice versa in Greek context. The explosive interest of students to pursue further with their studies, raises the question: "Is the world becoming more knowledged-based, or is it just a simple consumer-public god relationship?"
Over the last few decades several studies (i.e. Asteriou & Siriopoulos, 1997, Barro, 2001, Hanushek & Kimko, 2000, Krueger & Lindahl, 2000, Lee & Lee, 1995) have investigated the relation between education and economic growth. They found a positive correlation among GDP growth rate and education, mainly using evidence from advanced countries. Therefore, in an attempt to build a new signaling system, our concern is to examine the causal direction between GDP growth and educational variables in order to define which is a precondition for what, in other, advancing countries, as well.
Method
Expected Outcomes
References
Abhijeet, Chandra, (2010). "Does Government Expenditure on Education Promote Economic Growh? An econometric Analysis", MPRA Paper, No. 25480 Acemoglu, D, (2009). Introduction to Modern Economic Growth. Princeton, NJ: Princeton University Press. Alexakis, P, Siriopoulos, C, (1999). "The International Stock Market Crisis of 1997 and the dynamic relationship between Asian Stock Markets: Linear and Non-Linear Granger Causality tests", Managerial Finance, Vol. 25, No. 8, pp. 22-38. Asteriou, D, Agiomirgianakis, G.M., (2001). "Human Capital Growth. Time-series evidence from Greece." Journal of Policy Modeling, 23, 481-489. Asteriou, D, Siriopoulos, C, (1997). "Can educational expansion function as a seed of economic development in developing countries?", Discussion Paper Series, No. 68, City University. Barro, R.J., (2001) ."Economic Growth in a Cross Scetion of Countries", The Quarterly Journal of Economics, Vol. 106, No.2, pp. 407-443. Becker, G.S., (1964). "Human Capital: A Theoretical and Empirical Analysis, with Special References to Education", Columbia University Press, New York. Becker, G.S., "Human Capital and the Personal Distribution of Income", University of Michigan Press, Michigan. Krueger, A.B., LIndahl, M, (2000). "Education For Growth: Why and For Whom?", Working Paper 7591, New York: NBER. Meghir, C, Rivkin, S.G, (2011). "Econometric methods for research in education". In: Hanushek, Woessman (Eds), Handbook of the economics of Education, Vol. 3. Elsevier:London;2011. P 1-81. Mincer, J., (1958) "Investment in Human Capital and Personal Income Distribution", Journal of Political Economy, Vol. 66, No. 4, pp 281-302. Mincer, J., (1974). "Schooling, Experience and Earnings", New York: National Bureau of Economic Research. Psacharopoulos, G., Patrinos, H.A., (2001). "Returns to Investment in Education: A Further Update", World Bank, Xerox, June.
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