scholarly journals Approaches to evaluating the effectiveness of investments in higher education

2021 ◽  
Vol 53 (5) ◽  
pp. 512-529
Author(s):  
Aleksander P. Tsypin ◽  
◽  
Anna A. Firsova ◽  
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Institutional Environment ◽  
Positive Impact ◽  
Innovation Policy ◽  
Social Progress ◽  
Gdp Per Capita ◽  
Federal State ◽  
Higher Education System ◽  
Per Capita

Introduction. The role of the importance of higher education in the formation of human capital as a strategic resource of social progress and sustainable development of the country determines the relevance of studies that allow assessing the interdetermination of education and economic growth. The purpose of the article is to identify approaches to assessing the effectiveness of investments in higher education and modeling their impact on the economic growth of post-Soviet countries. Materials and methods. The methodological basis of the study is testing the author's hypothesis and econometric modeling of the influence of macroeconomic indicators characterizing the state of the higher education system on the resulting indicator of gross domestic product per capita as an indicator of economic growth according to data from 15 post-Soviet countries. Methods of economic analysis, statistical and econometric methods were used. For empirical analysis, we used statistical data from the Federal State Statistics Service of the Russian Federation, the World Bank, and the United Nations. Results. The research hypothesis about the positive impact of spending on higher education on the economic growth of the post-Soviet countries has been confirmed. The greatest response to GDP per capita is observed from the indicators "Spending on research and development" and "Admission of high school graduates to higher education". Prediction of the obtained models shows the possibility of a significant increase in GDP per capita with an increase in spending on higher education with a corresponding congruent development of the institutional environment of the post-Soviet countries. Taking into account the identified factors makes it possible to determine priorities for a balanced education and innovation policy in the post-Soviet countries. Conclusions. Empirically substantiated the need to increase investment in the higher education sector to accelerate economic growth and level economic inequality, which must be taken into account when implementing policies in the context of structural reforms in higher education in post-Soviet countries and determining the amount of investment in higher education.

scholarly journals GLOBALIZATION AND ITS IMPACT ON ECONOMIC GROWTH: EVIDENCE FROM ASEAN COUNTRIES

TRIKONOMIKA ◽  
2020 ◽  
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Positive Impact ◽  
Economic Globalization ◽  
Gdp Per Capita ◽  
Domestic Product ◽  
Brunei Darussalam ◽  
Per Capita ◽  
Asean Countries ◽  
The Impact

This study investigates the impact of globalization toward economic growth in ASEAN countries during 2012 to 2017. The research method used judgmental sampling with samples of 11 countries. They were Brunei Darussalam, Cambodia, East Timor, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The analysis used path analysis to examine the impact between the variables of globalization and economic growth. Globalization was determined by globalization index, economic globalization, social globalization, and politic globalization. Real Gross Domestic Product (GDP) and Gross Domestic Product (GDP) per capita are used as a proxy for economic growth. The finding results are that globalization index, economic globalization, social globalization, and politic globalization have a significant positive association with Gross Domestic Product (GDP) and Gross Domestic Product (GDP) per capita. Overall globalization evidence the positive impact on economic growth in ASEAN Countries.

scholarly journals Foreign Investment, Government Expenditure, and Economic Growth in Malaysia

2010 ◽  
Author(s):  
Fatimah Said ◽  
Zarinah Yusof ◽  
Saad Mohd Said ◽  
Ahmad Farid OSMAN
Keyword(s):  
Economic Growth ◽  
Foreign Investment ◽  
Driving Forces ◽  
Negative Impact ◽  
Positive Impact ◽  
Government Expenditure ◽  
Real Income ◽  
Ordinary Least Squares ◽  
Gdp Per Capita ◽  
Per Capita

This study uses the ordinary least squares technique to examine the effect of foreign investment and government expenditure on the growth in GDP per capita in Malaysia over the period 1978-2005. The regression results showed that the growth of export and ratio of government expenditure to GDP are the driving forces in enhancing the economic growth in Malaysia. Foreign investment and previous year real income per capita growth depict positive impact, whereas population growth exerts a negative impact on economic growth.  

scholarly journals Education and Economic Growth of the Western Balkans Countries

ECONOMICS ◽  
2018 ◽  
Vol 6 (2) ◽  
pp. 27-35
Author(s):  
Ognjen Erić
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Economic Development ◽  
Educational System ◽  
Education System ◽  
Growth And Development ◽  
Gdp Per Capita ◽  
Western Balkans ◽  
Per Capita

Summary Numerous theoretical and empiric studies investigate the correlation between education and human capital and economic development. Full affirmation of knowledge and the role of education in stimulating economic growth were provided by endogenous theory. The subject of this paper is to analyse the correlation between education and educational system and the economic growth of the Western Balkans countries (WB). The hypothesis of this work says that: education and educational system in the WB affect the growth of GDP per capita. A better education system stimulates and accelerates the economic growth and development. The aim of this research is to prove that an optimal education system stimulates the growth and development in each observed national economy. In this paper, the results of the correlation analysis indicate high compliance of higher education with GDP per capita i.e. higher education population is particularly important for the level of development whereas there is a highly compliant but inverse relation of the population with informal level of education and economic development in the WB countries.

scholarly journals New knowledge generation capabilities and economic performance of Polish regions

Equilibrium ◽  
2016 ◽  
Vol 11 (3) ◽  
pp. 451-471 ◽  
Author(s):  
Monika Kondratiuk-Nierodzińska
Keyword(s):  
Economic Growth ◽  
Innovation Policy ◽  
Knowledge Generation ◽  
Gdp Per Capita ◽  
Generation Process ◽  
Technological Advancement ◽  
New Knowledge ◽  
Per Capita ◽  
Determinants Of Economic Growth ◽  
The Relationship

Economic growth is a process of long-term transformation shaped by complex interactions between technology, economy, institutions and social factors. A considerable number of studies have shown that among these factors technological advancement and particularly new knowledge generation capabilities may be one of the most important determinants of economic growth and development. Significant disparities in development levels can be observed between Polish regions. The aim of this paper is to look for the sources of these disparities in regional capacity for new knowledge creation. The research method adopted in this paper is based on statistical analysis of the relationship between variables describing new knowledge generation capabilities and GDP per capita in two periods: 2003–2004 and 2012–2013 in 16 Polish regions. Correlation and regression analysis results show that there is a strong positive relationship between regional differences in new knowledge generation capabilities and variations in GDP per capita. The relationship is very strong when one considers three aspects of these capabilities: R&D employment and R&D expenditures denoting inputs to the new knowledge generation process and patenting activity representing its output. These results may serve as an indication for innovation policy at regional level.

scholarly journals Economic growth and conservation effort in the Congo Basin

2021 ◽  
Vol 12 (1) ◽  
pp. 32-38
Author(s):  
Novice Patrick Bakehe ◽  
Roukiya Hassan
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Population Density ◽  
Protected Areas ◽  
Protected Area ◽  
Positive Impact ◽  
Congo Basin ◽  
Gdp Per Capita ◽  
Conservation Effort ◽  
Per Capita

In a world increasingly subject to climate change, protected areas are of particular importance for conserving biodiversity and human livelihoods. Therefore, they play an important role in helping many species, populations, and countries adapt to climate change. This paper analyzes the effects of economic growth on the evolution of the protected areas. The study examines this relation using a sample of nine countries of the Congo Basin from 1990 to 2010. The econometric results show that an increase in the Gross Domestic Product (GDP) per capita has a positive impact on the extent of the protected area in this region regardless of the model chosen. Therefore, economic growth is a means used for the preservation of biodiversity in the Congo Basin. Moreover, the population density is negative and statistically significant. This shows that the protected areas of the Congo Basin are particularly threatened in densely populated areas.

scholarly journals Assessing the Potential of Renewable Energy Production as a Driver of Economic Growth

2021 ◽  
Vol 7 (522) ◽  
pp. 146-152
Author(s):  
V. I. Vostriakova ◽  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Production ◽  
Alternative Energy ◽  
Positive Impact ◽  
Renewable Energy Sources ◽  
Gdp Per Capita ◽  
Energy Sources ◽  
Correlation Relationship ◽  
Per Capita

The presented article aims to study the relationship between consumption and production of renewable energy and economic growth expressed in GDP per capita of the countries that invest the most in the development of renewable energy (USA, EU, China), and in the global dimension – for comparison with Ukraine and Russia. The World Bank’s secondary data for 1990-2015 and methodology of linear regression modeling were used for the research. An analytical review of the growing global investment potential of renewable energy in terms of general dynamics, sectors and leading countries in the context of investments in renewable energy sources was carried out. The results of correlation-regression analysis demonstrate a high correlation relationship between alternative energy consumption and economic growth of more developed countries with high GDP per capita than countries with lower GDP. The findings are consistent with other publications reviewed in the research. In addition, the increase in both China’s and the world’s GDP in the share of alternative energy production has a positive impact, and the increase in the share of consumption is negative. Whereas at the level of such countries as the USA, the European Union and Ukraine – on the contrary, consumption itself has a positive impact. The development of alternative energy has a negative impact on the economic growth of the Russian Federation in both indicators. According to the results of the carried out study, it can be summarized that countries with both high and low GDP should take all necessary measures to increase consumption and production of renewable energy sources, which provides for the formation of a favorable investment climate for large-scale investments in renewable energy, which, in turn, will lead to an increase in the pace of economic growth in the long term.

The impact of a country’s level of development on the nexus between bank lending structure and economic growth

2021 ◽  
pp. 51-70
Author(s):  
I. N. Gurov ◽  
E. Y. Kulikova
Keyword(s):  
Economic Growth ◽  
Low Income ◽  
Banking Sector ◽  
Negative Impact ◽  
Positive Impact ◽  
Bank Lending ◽  
Low Income Countries ◽  
Gdp Per Capita ◽  
Per Capita ◽  
The Impact

The purpose of this paper is to determine how the impact of the bank lending structure on economic growth differs depending on the level of a country’s development. The article provides suggestions on how much one can rely on the leading growth of corporate and consumer bank lending in order to promote economic growth. The study is based on the panel data for 211 countries for the period 1990—2019 using methods of qualitative and quantitative analysis. The authors have identified three groups of the countries where the impact of the bank lending structure on economic growth is different. In the least developed and low-income countries, the leading growth of both consumer and corporate lending has a positive impact on economic growth. As GDP per capita reaches 4,700—7,000 constant 2010 U.S. dollars, the outstripping growth of consumer lending begins to negatively affect economic growth, while corporate lending continues to have a positive impact. As GDP per capita continues to increase, corporate lending also begins to negatively affect economic growth. The GDP per capita threshold level, after which the negative impact of corporate lending begins, ranges from 6,000 to 42,000 constant 2010 U.S. dollars, some estimates allow us to specify these limits from 13,000 to 22,000 constant 2010 U.S. dollars. Such broad boundaries are determined by the fact that the role of the banking sector in investments financing may differ because of the financial sector model and the national economy structure. However, our results show that in the most developed and high-income countries, faster growth in corporate lending will not contribute to economic growth. The study also finds that the share of mortgage loans in GDP has a positive but insignificant effect on economic growth in all groups of the countries.

scholarly journals Educación superior y crecimiento económico en Colombia (1971-2016): una relación de cointegración.

2018 ◽  
Author(s):  
Brayan Alexander Baron Ortegon
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Growth Rate ◽  
Human Capital ◽  
Tertiary Education ◽  
Gdp Per Capita ◽  
Vec Model ◽  
Long Run ◽  
Per Capita ◽  
The Impact

This article analyzes the relation between GDP per capita (CPIBpc) and access to tertiary education, seen from the perspective of growth rate of the number of enrollments (TCMes) in higher education in Colombia for the period (1971-2016). By using a VEC model and assuming everything else constant, it is concluded that TCMes Granger caused the Colombian GDP per capita and vice-versa, therefore, the existence of a long run relation between both variables is verified. This result helps to explain the dynamics of Colombian economic growth per capita of the last forty-five years and the impact of the accumulation of human capital on it.

scholarly journals Examining GDP Growth and Its Volatility: An Episodic Approach

Entropy ◽  
2021 ◽  
Vol 23 (7) ◽  
pp. 890
Author(s):  
Jakub Bartak ◽  
Łukasz Jabłoński ◽  
Agnieszka Jastrzębska
Keyword(s):  
Economic Growth ◽  
Genetic Algorithm ◽  
Time Series ◽  
Human Capital ◽  
Growth Rates ◽  
Structural Breaks ◽  
Negative Relationship ◽  
Gdp Per Capita ◽  
Gdp Growth ◽  
Per Capita

In this paper, we study economic growth and its volatility from an episodic perspective. We first demonstrate the ability of the genetic algorithm to detect shifts in the volatility and levels of a given time series. Having shown that it works well, we then use it to detect structural breaks that segment the GDP per capita time series into episodes characterized by different means and volatility of growth rates. We further investigate whether a volatile economy is likely to grow more slowly and analyze the determinants of high/low growth with high/low volatility patterns. The main results indicate a negative relationship between volatility and growth. Moreover, the results suggest that international trade simultaneously promotes growth and increases volatility, human capital promotes growth and stability, and financial development reduces volatility and negatively correlates with growth.

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