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The Investments in Education and Quality of Life

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  • Dan Dumitru Ionescu

    (Alexandru Ioan Cuza University of Iasi)

  • Alina Măriuca Ionescu

    (Alexandru Ioan Cuza University of Iasi)

  • Elisabeta Jaba

    (Alexandru Ioan Cuza University of Iasi)

Abstract

A considerable amount of literature has investigated positive economic and social outcomes that learning may have both for individuals and for societies. Better-educated people typically have better health status, lower unemployment, more social connections, and greater engagement in civic and political life. This paper aims to explore the relationship between investments in education and research and the level of quality of life in a country. The investments in education and research are expressed in terms of expenditure on education and research, financial aid to pupils and students and public subsidies to private sector. For the assessment of quality of life there were considered three well-known composite indicators: Human Development Index, Economist Intelligence Unit Quality of Life Index, and Satisfaction with Life Scale. The analysis is done using data on European Union 27 member states, which come from Eurostat database and from specialized institutions’ sites. The study shows a positive relation between investments in education and quality of life. It identifies the annual expenditure on public and private educational institutions per pupil/student and the gross domestic expenditure on research and development as being the indicators of investments in education that best predict the level of quality of life in a country. Journal: Journal of Knowledge Management, Economics and Information Technology

Suggested Citation

  • Dan Dumitru Ionescu & Alina Măriuca Ionescu & Elisabeta Jaba, 2013. "The Investments in Education and Quality of Life," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(6), pages 1-12, December.
    • Handle: RePEc:spp:jkmeit:spi13-12
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    References listed on IDEAS

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    1. Sabina Alkire, 2010. "Human Development: Definitions, Critiques, and Related Concepts," OPHI Working Papers 36, Queen Elizabeth House, University of Oxford.
    2. Mathias Kuepie & Christophe Nordman & François Roubaud, 2006. "Education and Labour Market Outcomes in Sub-Saharan West Africa," Working Papers DT/2006/16, DIAL (Développement, Institutions et Mondialisation).
    3. Eddy van Doorslaer & Cristina Masseria, 2004. "Income-Related Inequality in the Use of Medical Care in 21 OECD Countries," OECD Health Working Papers 14, OECD Publishing.
    4. John F. Helliwell, 2008. "Life Satisfaction and Quality of Development," NBER Working Papers 14507, National Bureau of Economic Research, Inc.
    5. Tazeen Fasih, 2008. "Linking Education Policy to Labor Market Outcomes," World Bank Publications - Books, The World Bank Group, number 6407.
    6. Ashiagbor, Diamond, 2005. "The European Employment Strategy: Labour Market Regulation and New Governance," OUP Catalogue, Oxford University Press, number 9780199279647.
    7. Michael Hagerty & Robert Cummins & Abbott Ferriss & Kenneth Land & Alex Michalos & Mark Peterson & Andrew Sharpe & Joseph Sirgy & Joachim Vogel, 2001. "Quality of Life Indexes for National Policy: Review and Agenda for Research," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 55(1), pages 1-96, July.
    8. repec:dau:papers:123456789/4353 is not listed on IDEAS
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    Cited by:

    1. Ahmed SALAMA, 2017. "How Literacy Affects Unemployment Among Different Age Groups In Palestine," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 15, pages 363-371, December.
    2. Mary Jo Rattermann & Azure Angelov & Tommy Reddicks & Jess Monk, 2021. "Advancing health equity by addressing social determinants of health: Using health data to improve educational outcomes," PLOS ONE, Public Library of Science, vol. 16(3), pages 1-11, March.

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