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Impact of Financial Development and Remittances on Educational Attainment within the Context of Sustainable Development: A Panel Evidence from Emerging Markets

Author

Listed:
  • Funda H. Sezgin

    (Department of Industrial Engineering, Istanbul University-Cerrahpaşa, 34320 Istanbul, Turkey)

  • Gökçe Tekin Turhan

    (Department of Banking and Finance, Nişantaşı University, 34398 İstanbul, Turkey)

  • Gamze Sart

    (Department of Educational Sciences, Hasan Ali Yucel Faculty of Education, İstanbul University-Cerrahpaşa, 34320 İstanbul, Turkey)

  • Marina Danilina

    (Department of Economics, Plekhanov Russian University of Economics (PRUE), 117997 Moscow, Russia
    Department of Economics, Financial University under the Government of the Russian Federation, 125167 Moscow, Russia)

Abstract

Education is one of the Sustainable Development Goals (SDGs) of the United Nations and is also a vital factor for nearly all the other SDGs. Therefore, factors underlying educational attainment are crucial for achieving the SDGs by 2030. In this context, the financial system has become critical in building various schools and covering educational expenditures such as teachers’ salaries, teaching materials, and training. This paper uses static and dynamic regression methods to study the impact of financial sector development, remittances, real GDP per capita, information and communications technologies (ICT) development, and globalization on educational attainment in 18 emerging economies over the 2000–2020 period. The results indicate that financial development, remittances, real GDP per capita, ICT development, and globalization positively impact educational attainment. Real GDP per capita, ICT development, globalization, and financial development have the highest impact of these factors. In contrast, remittances have a limited positive influence on educational attainment compared with other variables.

Suggested Citation

  • Funda H. Sezgin & Gökçe Tekin Turhan & Gamze Sart & Marina Danilina, 2023. "Impact of Financial Development and Remittances on Educational Attainment within the Context of Sustainable Development: A Panel Evidence from Emerging Markets," Sustainability, MDPI, vol. 15(16), pages 1-14, August.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:16:p:12322-:d:1216207
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    References listed on IDEAS

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    2. Pruethsan Sutthichaimethee, 2024. "A Framework on Setting Strategies for Enhancing the Efficiency of State Power use in Thailand’s Pursuit of a Green Economy," International Journal of Energy Economics and Policy, Econjournals, vol. 14(1), pages 108-120, January.

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