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The objective of this study is to investigate whether an increase in development is observed as the female
education increases with respect to the male. The study estimates combined cross-section times-series
regressions using the adolescent fertility rate as the dependent variable to measure development. Education is
measured by the ratios of female to male primary, secondary, and tertiary enrollment. The unbalanced panel
data analysis covers the 1997-2011 period for 53 countries. Control (instrumental) variables are also used in
this study to analyze further effects of education on development. Hence, measures related to science and
technology, health, and gender are also employed in the estimation. The analysis and estimation results of the
dynamic balanced panel data model reveal that the n-step GMM estimation technique is the one that explains
the model and the exogeneity of the instrumental variables in the best manner, while also producing
statistically significant and consistent coefficients. The results of the dynamic panel data estimation roughly
show that as the level of female education increases; the rate of adolescent fertility decreases, and therefore
development increases.