Ве молиме користете го овој идентификатор да го цитирате или поврзете овој запис: http://hdl.handle.net/20.500.12188/26167
Наслов: PUBLIC EXPENDITURE ON EDUCATION AND ECONOMIC GROWTH: EVIDENCE FROM NORTH MACEDONIA
Authors: Shapkova Kocevska, Katerina
Keywords: Public Education Expenditure
GDP per capita
North Macedonia
ARDL
Issue Date: 25-мар-2023
Publisher: Institute for Research and European Studies
Journal: Journal of Liberty and International Affairs
Abstract: In this paper, we studied the impact of public education expenditure on GDP per capita in North Macedonia from 1991 to 2020. The main questions we examined were: 1) What is the relationship between public education expenditure and GDP per capita in the country in the short run?; 2) Does a long-term relationship between the aforementioned variables exist?; and 3) What are the policy implications? This research was based on the Auto-Regressive Distributed Lag (ARDL) model, originally developed by Pesaran et al. (2001). The empirical estimations produced interesting findings. In the short run, the relationship between public spending on education and GDP per capita in North Macedonia was negative and statistically significant. The long-term relationship between the variables remained negative but statistically insignificant. These results were robust and consistent with results from earlier empirical studies. The results suggested that government expenditures on education did not contribute to economic growth in North Macedonia in the analyzed period, ceteris paribus. We concluded that, from a public policy standpoint, intervention in the education system's financing is necessary to facilitate the transformation of education expenditures into productive human capital and enhance the nation's economic development.
URI: http://hdl.handle.net/20.500.12188/26167
DOI: https://doi.org/10.47305/JLIA2391022shk
Appears in Collections:Faculty of Law: Journal Articles

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