IDEAS home Printed from https://ideas.repec.org/a/vls/rojfme/v10y2022i1p30-43.html
   My bibliography  Save this article

Poverty, Education And Economic Growth: A Case Study Of Western Balkan Countries

Author

Listed:
  • BANDA, Iges

    (Epoka University, Tirana, Albania)

  • WILLIAMS-ADEYANJU, Zainab

    (Epoka University, Tirana, Albania)

  • SKRAME, Dea

    (Epoka University, Tirana, Albania)

Abstract

Earlier studies have shown the impact of education in poverty alleviation and the attainment of economic growth in developed economies. This paper analyses the effect of poverty and education on the economic growth of Western Balkan countries: Albania, Bosnia and Herzegovina, Croatia, Kosovo, Montenegro, Republic of North Macedonia and Serbia. Both quantitative and qualitative methods were used in the analysis (graphical analysis, descriptive statistics and EViews econometric model). The data were sourced from World Bank for the period between 1990- 2020 and findings from the econometric model show an inverse relationship between poverty and economic growth and a positive relationship between education and economic growth in Western Balkan countries. The results further buttresses the need for better investment in education in order to improve the skills of the labor force, boost productivity and invariably bring about sustainable economic growth.

Suggested Citation

  • BANDA, Iges & WILLIAMS-ADEYANJU, Zainab & SKRAME, Dea, 2022. "Poverty, Education And Economic Growth: A Case Study Of Western Balkan Countries," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 10(1), pages 30-43, October.
    • Handle: RePEc:vls:rojfme:v:10:y:2022:i:1:p:30-43
    as

    Download full text from publisher

    File URL: http://www.icfm.ro/RePEc/vls/vls_pdf_jfme/vol10i1p30-43.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mthuli Ncube & John C. Anyanwu & Kjell Hausken, 2014. "Inequality, Economic Growth and Poverty in the Middle East and North Africa (MENA)," African Development Review, African Development Bank, vol. 26(3), pages 435-453, September.
    2. Morrison, Andrew & Raju, Dhushyanth & Sinha, Nistha, 2007. "Gender equality, poverty and economic growth," Policy Research Working Paper Series 4349, The World Bank.
    3. Hyun H. Son & Nanak Kakwani, 2004. "Economic growth and poverty reduction: initial conditions matter," Working Papers 2, International Policy Centre for Inclusive Growth.
    4. Breunig, Robert & Majeed, Omer, 2020. "Inequality, poverty and economic growth," International Economics, Elsevier, vol. 161(C), pages 83-99.
    5. Robert Breunig & Omer Majeed, 2020. "Inequality, poverty and economic growth," International Economics, CEPII research center, issue 161, pages 83-99.
    6. Maham Furqan & Haider Mahmood, 2020. "Does education reduce homicide? A panel data analysis of Asian region," Quality & Quantity: International Journal of Methodology, Springer, vol. 54(4), pages 1197-1209, August.
    7. Mthuli Ncube & John Anyanwu & Kjell Hausken, 2014. "Working Paper 195 - Inequality, Economic Growth, and Poverty in the Middle East and North Africa (MENA)," Working Paper Series 999, African Development Bank.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rasheed O. Alao & Andrew A. Alola, 2022. "The role of foreign aids and income inequality in poverty reduction: A sustainable development approach for Africa?," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 24(2), pages 456-469, December.
    2. Mohamed Ali Chroufa & Nouri Chtourou, 2022. "Inequality and Growth in Tunisia: New Evidence from Threshold Regression," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 163(2), pages 901-924, September.
    3. Simplice A. Asongu & Jacinta C. Nwachukwu, 2017. "Foreign Aid and Inclusive Development: Updated Evidence from Africa, 2005–2012," Social Science Quarterly, Southwestern Social Science Association, vol. 98(1), pages 282-298, March.
    4. Mark Edem Kunawotor & Charles Barnor & Raymond Dziwornu, 2021. "The Income Redistributive Effects of Taxes in Africa," Economics Bulletin, AccessEcon, vol. 41(3), pages 1579-1591.
    5. Oasis Kodila-Tedika & Simplice A. Asongu & Julio Mukendi Kayembe, 2016. "Middle Class in Africa: Determinants and Consequences," International Economic Journal, Taylor & Francis Journals, vol. 30(4), pages 527-549, October.
    6. Simplice Asongu & Rexon Nting, 2020. "The comparative economics of financial access in gender economic inclusion," African Journal of Economic and Management Studies, Emerald Group Publishing Limited, vol. 12(2), pages 193-207, December.
    7. Kouadio, Hugues Kouassi & Gakpa, Lewis-Landry, 2022. "Do economic growth and institutional quality reduce poverty and inequality in West Africa?," Journal of Policy Modeling, Elsevier, vol. 44(1), pages 41-63.
    8. Obadiah Jonathan Gimba & Mehdi Seraj & Huseyin Ozdeser, 2021. "What drives income inequality in sub‐Saharan Africa and its sub‐regions? An examination of long‐run and short‐run effects," African Development Review, African Development Bank, vol. 33(4), pages 729-741, December.
    9. Simplice Asongu & Uchenna Efobi & Ibukun Beecroft, 2015. "Inclusive Human Development in Pre-crisis Times of Globalization-driven Debts," African Development Review, African Development Bank, vol. 27(4), pages 428-442, December.
    10. Chong Hui Ling & Khalid Ahmed & Rusnah Muhamad & Muhammad Shahbaz & Nanthakumar Loganathan, 2017. "Testing the Social Cost of Rapid Economic Development in Malaysia: The Effect of Trade on Life Expectancy," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 130(3), pages 1005-1023, February.
    11. Asongu, Simplice A. & Nnanna, Joseph & Acha-Anyi, Paul N., 2020. "Inequality and gender economic inclusion: The moderating role of financial access in Sub-Saharan Africa," Economic Analysis and Policy, Elsevier, vol. 65(C), pages 173-185.
    12. Simplice A. Asongu & Joseph Nnanna & Paul N. Acha-Anyi, 2020. "Inclusive Education for Inclusive Economic Participation: the Financial Access Channel," Research Africa Network Working Papers 20/019, Research Africa Network (RAN).
    13. Kjell Hausken & Mthuli Ncube, 2018. "Service Delivery versus Moonlighting: Using Data from Kenya, Uganda, Tanzania and Senegal," African Development Review, African Development Bank, vol. 30(2), pages 219-232, June.
    14. Carr, Olivia G. & Jilani-Hyler, Nadia & Murray, Gregg R., 2022. "Identifying factors related to school closures due to COVID-19 in the Middle East and North Africa region," International Journal of Educational Development, Elsevier, vol. 90(C).
    15. Simplice Asongu & Nicholas M. Odhiambo, 2023. "Enhancing ICT for female economic participation in sub-Saharan Africa," African Journal of Economic and Management Studies, Emerald Group Publishing Limited, vol. 15(2), pages 195-223, May.
    16. Simplice A. Asongu & Jacinta C. Nwachukwu, 2017. "The Comparative Inclusive Human Development of Globalisation in Africa," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 134(3), pages 1027-1050, December.
    17. Simplice A. Asongu & Ivo J. Leke, 2019. "External flows and inclusive human development in Sub-Saharan Africa," International Journal of Happiness and Development, Inderscience Enterprises Ltd, vol. 5(1), pages 33-56.
    18. Joseph I. Uduji & Elda N. Okolo‐Obasi & Simplice A. Asongu, 2019. "Growth Enhancement Support Scheme (GESS) and Farmers’ Fertilizer Use in Rural Nigeria," African Development Review, African Development Bank, vol. 31(3), pages 348-363, September.
    19. Simplice Asongu, 2015. "Rational Asymmetric Development: Transfer Mispricing and Sub-Saharan Africa’s Extreme Poverty Tragedy," Working Papers of the African Governance and Development Institute. 15/054, African Governance and Development Institute., revised Aug 2015.
    20. Simplice Asongu, 2014. "A brief clarification to the questionable economics of foreign aid for inclusive human development," Working Papers of the African Governance and Development Institute. 14/028, African Governance and Development Institute..

    More about this item

    Keywords

    Poverty; Education; Economic Growth; Western Balkan; Income inequality;
    All these keywords.

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • I24 - Health, Education, and Welfare - - Education - - - Education and Inequality
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vls:rojfme:v:10:y:2022:i:1:p:30-43. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Daniel Mateescu (email available below). General contact details of provider: https://edirc.repec.org/data/cfiarro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.