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EDUCATIONAL ATTAINMENT AND ECONOMIC GROWTH IN EVIDENCE FROM NEW EU MEMBER STATES
Last modified: 2022-05-06
Abstract
Educational attainment is a crucial factor underlying economic growth and development. In this study, the mutual interaction between educational attainment and economic growth is investigated in sample of the new Europe-an Union member states, which experienced a structural transformation in institutional, economic, and political fields, over the 1996–2019 term by means of causality test. The consequences of causality analysis revealed a bidirectional causal interaction between educational attainment and economic growth. In other words, on the one hand educational attainment has a significant influence on economic growth, on the other hand economic growth has a significant influ-ence on educational attainment.
Keywords
educational attainment, economic growth, new EU Member States, panel causality analysis
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