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Education and Economic Development: An Empirical Analysis for Greece
Department of Business Administration, School of Economic Sciences, University of Western Macedonia, Grevena, Greece
Department of Sciences of Education, School of Humanities, Hellenic Open University, Patra, Greece
- 1 Department of Business Administration, School of Economic Sciences, University of Western Macedonia, Grevena, Greece
- 2 Department of Sciences of Education, School of Humanities, Hellenic Open University, Patra, Greece
Theoretical Economics Letters·Volume 13 (2023)·Pages 1657–1668·Published 26 December 2023·DOI10.4236/tel.2023.137095
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Abstract
This paper inquires the interrelation between education and economic de vel opment for Greece taking into consideration the impact of employment, prod uctivity and technology. Sensitivity analysis scrutinizes the nexus between education and development applying the Monte Carlo simulation process. The results of the empirical research indicated that education affects positively economic development in Greece for the period 2000-2019.
KeywordsEducationEconomic DevelopmentMonte Carlo SimulationGranger Causality
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