Do Education Expenditures Affect Economic Growth? Testing With Panel Data Analysis Method

Authors : Hasan Çebi Bal, Meryem Yılmaz

Pages : 893-914

Doi:10.26745/ahbvuibfd.1539155

View : 64 | Download : 63

Publication Date : 2024-12-25

Article Type : Research Paper

Abstract :Abstract The study aimed to examine whether education expenditures, basic education expenditures, secondary education expenditures and advanced education expenditures affect economic growth. In the study covering the duration 1990-2023, 6 major economies with complete data were considered. The econometric analysis first started with the correlation test of the series, and in the presence of correlation, the second-generation unit root test was applied, and in the absence of correlation, the first generation unit root test was applied. The presence of a cointegrated relationship in our research model allowed us to make long-term coefficient estimation. According to long-term coefficients, education expenditures, advanced and secondary education expenditures negatively affect economic growth; basic education expenditures have a positive impact. According to Dumitrescu and Hurlin Panel causality test; While a one-way causality relationship was detected between education expenditures, basic education expenditures, secondary education expenditures and economic growth; A bidirectional causality relationship was found between further education expenditures and economic growth.
Keywords : Eğitim harcamaları, Beşerî Sermaye, Ekonomik Büyüme, Panel Veri Analizi.