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The relationship between the level of education and the development state of a country

Author

Listed:
  • Cristian Popescu
  • Laura Diaconu

    (Faculty of Economics and Business Administration, Alexandru Ioan Cuza University)

Abstract

The present paper underlines the fact that the resources allocated to education and the structure of the educational act must be correlated to the level of development of a country, at a certain mo-ment. For Romania, the conclusions impose a reallocation of resources towards the secondary education and a reorganization of the tertiary education. The developing countries need medium skil-led labor force because the emerging markets do not have the financial and technological capacity to sustain innovative fields with highly skilled workers. Romania is in this last situation. Yet, the educa-tional system has continued producing university graduates that the economy could not absorb. Consequently, a large part of them have emigrated, looking for a proper compensation of their contri-bution to the production system. So, the main challenges for Romania would be to match the specializations to the market demand and to substantially reduce the public spending for the tertiary education.

Suggested Citation

  • Cristian Popescu & Laura Diaconu, 2009. "The relationship between the level of education and the development state of a country," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice (1954-2015), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 56, pages 475-480, November.
    • Handle: RePEc:aic:journl:y:2009:v:56:p:475-480
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    References listed on IDEAS

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    7. Daron Acemoglu, 1996. "A Microfoundation for Social Increasing Returns in Human Capital Accumulation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 111(3), pages 779-804.
    8. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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