Publication: Impactul cheltuielilor cu educația asupra creșterii economice: exemplul României
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ASEM
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CRÎȘMARIU (ȘOMÎTCĂ), Alina. Impactul cheltuielilor cu educația asupra creșterii economice: exemplul României = The impact of education expenditure on economic growth: the case of Romania. In: Provocările contabilităţii în viziunea tinerilor cercetători: Conf. şt. intern. studenţească, ISSC 2021: Culegere de articole ştiinţifice, Ed. a 5-a, 11-12 martie 2021. Chişinău: ASEM, 2021, pp. 229-234. ISBN 978-9975-155-12-0.
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
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
Keywords
education expenditure, GDP, economic growth, cointegration, Augmented Dickey-Fuller (ADF), unit roots