Do Education Expenditures Affect Economic Growth? Testing With Panel Data Analysis Method

Year 2024, Volume: 26 Issue: 3, 893 - 914

Hasan Çebi Bal , Meryem Yılmaz

https://doi.org/10.26745/ahbvuibfd.1539155

Abstract

Abstract
The study aimed to examine whether education expenditures, basic education expenditures, secondary education expenditures and advanced education expenditures affect economic growth. In the study covering the duration 1990-2023, 6 major economies with complete data were considered. The econometric analysis first started with the correlation test of the series, and in the presence of correlation, the second-generation unit root test was applied, and in the absence of correlation, the first generation unit root test was applied. The presence of a cointegrated relationship in our research model allowed us to make long-term coefficient estimation. According to long-term coefficients, education expenditures, advanced and secondary education expenditures negatively affect economic growth; basic education expenditures have a positive impact. According to Dumitrescu and Hurlin Panel causality test; While a one-way causality relationship was detected between education expenditures, basic education expenditures, secondary education expenditures and economic growth; A bidirectional causality relationship was found between further education expenditures and economic growth.

Keywords

Education Expenditures, Human Capital, Economic Growth, Panel Data Analysis.

Eğitim Harcamaları Ekonomik Büyümeyi Etkiliyor Mu? Panel Veri Analiz Yöntemi ile Test Edilmesi

Abstract

Çalışmada; eğitim harcamalarının, temel eğitim harcamalarının, orta eğitim harcamalarının ve ileri eğitim harcamalarının ekonomik büyümeyi etkileyip etkilemediğinin incelenmesi amaçlanmıştır. 1990-2023 dönemini kapsayan bu çalışmada, verileri tam olan 6 büyük ekonomi ele alınmıştır. Ekonometrik analize ilk olarak serilere ait korelasyon testi ile başlanmış olup, korelasyon varlığında ikinci nesil, korelasyon yokluğunda birinci nesil birim kök testi uygulanmıştır. Araştırma modelimizde eş bütünleşik ilişkinin bulunmuş olması, uzun dönem katsayı tahmini yapmamıza olanak sağlamıştır. Uzun dönem katsayılarına göre eğitim harcamaları, ileri ve orta eğitim harcamaları ekonomik büyümeyi negatif etkilemekte; temel eğitim harcamaları ise pozitif etkilemektedir. Dumitrescu ve Hurlin Panel nedensellik testine göre; eğitim harcamaları, temel eğitim harcamaları ve orta eğitim harcamaları ile ekonomik büyüme arasında tek yönlü nedensellik ilişkisi tespit edilirken; ileri eğitim harcamaları ve ekonomik büyüme arasında çift yönlü nedensellik ilişkisine rastlanmıştır.

Keywords

Eğitim harcamaları, Beşerî Sermaye, Ekonomik Büyüme, Panel Veri Analizi.

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