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The effect of education on economic growth in Greece over the 1981-2009 period. Does the proxy of human capital affect the estimation?

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  • Constantinos Tsamadias
  • Panagiotis Pegkas

Abstract

This study examines the effect of education on economic growth in Greece, during the period 1981 to 2009, by applying the model introduced by Mankiw et al. (1992). Three different proxies of human capital were used, school enrolment rates in secondary education, average years of schooling and the proportion of the labour force which has received secondary education. The empirical analysis reveals that education has had a negative effect on economic growth. Specifically, the coefficients for the three proxies that were used have resulted in negative sign but only for the enrolments rates case was statistically significant. The model explained 26% up to 34% of the variation of the economic growth rate through the variation of the independent variables in different cases.

Suggested Citation

  • Constantinos Tsamadias & Panagiotis Pegkas, 2012. "The effect of education on economic growth in Greece over the 1981-2009 period. Does the proxy of human capital affect the estimation?," International Journal of Education Economics and Development, Inderscience Enterprises Ltd, vol. 3(3), pages 237-251.
    • Handle: RePEc:ids:ijeded:v:3:y:2012:i:3:p:237-251
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    Citations

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    Cited by:

    1. Panagiotis PEGKAS & Constantinos TSAMADIAS, 2015. "Does Formal Education At All Levels Cause Economic Growth? Evidence From Greece," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 15, pages 9-32, June.
    2. Karatheodoros Anastasios & Tsamadias Constantinos & Pegkas Panagiotis, 2019. "The effects of formal educations’ levels on regional economic growth in Greece over the period 1995–2012," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 39(1), pages 91-111, February.
    3. Panagiotis Pegkas, 2012. "Educational stock and economic growth The case of Greece over the period 1981-2009," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 62(1-2), pages 56-71, January -.
    4. Panagiotis Pegkas & Constantinos Tsamadias, 2017. "Are There Separate Effects of Male and Female Higher Education on Economic Growth? Evidence from Greece," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(1), pages 279-293, March.
    5. Panagiotis Pegkas & Constantinos Tsamadias, 2014. "Does Higher Education Affect Economic Growth? The Case of Greece," International Economic Journal, Taylor & Francis Journals, vol. 28(3), pages 425-444, September.
    6. Dimitrios Sotiriadis & Georgios Menexes & Constantinos Tsamadias, 2018. "Investigating the Efficiency of Senior Secondary Schools: Evidence from Schools in the Greek region of Central Macedonia," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 11(2), pages 36-43, September.

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