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The Influence Of Education On Social And Economic Development

Author

Listed:
  • Marilena CONSTANTINESCU (PEICHEA)

    (“Valahia” University of Targoviste, Romania)

  • Alina BIDIREANU (NASTASE)

    (“Valahia” University of Targoviste, Romania)

  • Isabela Florina BARBU (MARINESCU)

    (“Valahia” University of Targoviste, Romania)

  • Roxana SURCEL (GEORGESCU)

    (“Valahia” University of Targoviste, Romania)

Abstract

The social and global context involves numerous structural and functional changes, and the task of education is unprecedented and difficult. The education is related to well-being and competitiveness. Countries that have invested over time in the education system are the ones who today, are gathering the fruits of development, being at the top of the human development index in the world. The present paper analyzes the influence of expectancy of schooling on the degree of well-being of the population. To show the relationship between the two variables, we use the simple regression method, to construct a linear model for the period 2010 and 2017. The independent variable is considered expected years of schooling and the dependent variable is Gross Domestic Product. The calculations resulting led to the conclusion that the variation of Gross Domestic Product is explained at a rate of 71% by the variation of expected years of schooling.

Suggested Citation

  • Marilena CONSTANTINESCU (PEICHEA) & Alina BIDIREANU (NASTASE) & Isabela Florina BARBU (MARINESCU) & Roxana SURCEL (GEORGESCU), 2019. "The Influence Of Education On Social And Economic Development," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 4(4), pages 52-58.
    • Handle: RePEc:brc:brccej:v:4:y:2019:i:4:p:52-58
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    References listed on IDEAS

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    1. Joseph E. STIGLITZ, 2002. "Employment, social justice and societal well-being," International Labour Review, International Labour Organization, vol. 141(1-2), pages 9-29, March.
    2. Commission on Growth and Development, 2008. "The Growth Report : Strategies for Sustained Growth and Inclusive Development," World Bank Publications - Books, The World Bank Group, number 6507, December.
    3. World Bank, 2019. "World Development Report 2019 [Rapport sur le développement dans le monde 2019]," World Bank Publications - Books, The World Bank Group, number 30435, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Human Development; expectancy of schooling; education; Gross Domestic Product;
    All these keywords.

    JEL classification:

    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities

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