Empirical Evaluation of the Education Expenditure Impact on Economic Growth


Keywords: industry 4.0, economic growth, GDP, higher education expenditure, human capital, highly qualified staff, higher education

Abstract

This study expounds empirical evaluation of (a) the interrelation between higher education expenditure and the share of highly qualified employed population of Ukraine, (b) the dependence of the population qualification level on the higher education expenditure in foreign countries and (c) the dependence of these countries’ GDP on the qualification of people. It has been hypothesized that an increase in funding for higher education contributes to the growth of the share of highly qualified population and the GDP volume per capita. The regression analysis results indicate inverse dependence of the population's qualification on real expenditure on higher education in Ukraine, that is, as the expenditure decreases, the share of population with high qualification increases, while the number of higher school teachers goes down. This situation is inconsistent with economic theory and is fraught with long-term adverse consequences for the national economy. The analysis of the average figures in 24 foreign countries has not revealed a pronounced dependence of the population qualification on expenditure on higher education and that of GDP on qualification. Nevertheless, the general trend is observed, i.e., in the countries with heavier expenditure on higher education there is a higher percentage of qualified population and higher GDP. The same trend, but in a more explicit form, has been established based on the results of regression analysis for the individual EU countries, confirming the research hypothesis.

Downloads

Download data is not yet available.

References

Agolla, J. E. (2018). Human Capital in the Smart Manufacturing and Industry 4.0 Revolution. Digital Transformation in Smart Manufacturing, pp. 41-58. http://doi.org/10.5772/intechopen.73575

Becker, G. (1964). Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education. New York: National Bureau of Economic Research.

Becker, G. (1975). Investment in Human Capital: Effects on Earnings. Retrieved from http://www.nber.org/chapters/c3733.pdf

Becker, S. O., Hornung, E., & Woessmann, L. (2011). Education and catch-up in the industrial revolution. American Economic Journal: Macroeconomics, 3, 92–126.

Benesovaa, A., & Tupa, J. (2017). Requirements for Education and Qualification of People in Industry 4.0. Procedia Manufacturing, 11, 2195-2202.

Benhabib, J., & Spiegel, M. (1994). The Role of Human Capital in Economic Development: Evidence from Aggregate Cross-Country Data. Journal of Monetary Economics, 34, 143-179. https://doi.org/10.1016/0304-3932(94)90047-7

Benos, N., & Zotu, S. (2014). Education and economic growth: A meta-regression analysis. World Development, 64, 669–689. https://doi.org/10.1016/j.worlddev.2014.06.034

Bogachov, S., Kwilinski, A., Miethlich, B., Bartosova, V., & Gurnak, A. (2020). Artificial Intelligence Components and Fuzzy Regulators in Entrepreneurship Development. Entrepreneurship and Sustainability Issues, 8(2), 487-499. http://doi.org/10.9770/jesi.2020.8.2(29)

Boiko, V., Kwilinski, A., Misiuk, M., & Boiko, L. (2019). Competitive Advantages of Wholesale Markets of Agricultural Products as a Type of Entrepreneurial Activity: The Experience of Ukraine and Poland. Economic Annals-XXI, 175(1-2), 68-72. https://doi.org/10.21003/ea.V175-12

Czyżewski, B., Matuszczak, A., & Miskiewicz, R. (2019). Public Goods Versus the Farm Price-Cost Squeeze: Shaping the Sustainability of the EU’s Common Agricultural Policy. Technological and Economic Development of Economy, 25(1), 82-102. https://doi.org/10.3846/tede.2019.7449

Chygryn, O., Bilan, Y., & Kwilinski, A. (2020). Stakeholders of Green Competitiveness: Innovative Approaches for Creating Communicative System. Marketing and Management of Innovations, 3, 356-368. https://doi.org/10.21272/mmi.2020.3-26

Dalevska, N., Khobta, V., Kwilinski, A., & Kravchenko, S. (2019). A Model for Estimating Social and Economic Indicators of Sustainable Development. Entrepreneurship and Sustainability Issues, 6(4), 1839-1860. https://doi.org/10.9770/jesi.2019.6.4(21)

Dementyev, V.V., & Kwilinski, A. (2020). Institutsionalnaya sostavlyayuschaya izderzhek proizvodstva [Institutional Component of Production Costs]. Journal of Institutional Studies, 12(1), 100-116. https://doi.org/10.17835/2076-6297.2020.12.1.100-116

Deloitte (2018). Preparing tomorrow's workforce for the Fourth Industrial Revolution. For business: A framework for action. Deloitte. Retrieved from https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/gx-preparing-tomorrow-workforce-for-4IR.pdf

D2L (2018). The Future of Work and Learning in the Age of the 4th Industrial Revolution.

Drozdz, W., Miskiewicz, R., Pokrzywniak, J., & Elzanowski, F. (2019). Urban Electromobility in the Context of Industry 4.0. Torun: Wydawnictwo Adam Marszalek.

Drozdz, W., Marszalek-Kawa, J., Miskiewicz, R., & Szczepanska-Waszczyna, K. (2020). Digital Economy in the Comporary World. Torun: Wydawnictwo Adam Marszalek.

Dzwigol, H. (2019a). The Concept of the System Approach of the Enterprise Restructuring Process. Virtual Economics, 2(4), 46-70. https://doi.org/10.34021/ve.2019.02.04(3)

Dzwigol, H. (2019b). Research Methods and Techniques in New Management Trends: Research Results. Virtual Economics, 2(1), 31-48. https://doi.org/10.34021/ve.2019.02.01(2)

Dzwigol, H. (2020a). Innovation in Marketing Research: Quantitative and Qualitative Analysis. Marketing and Management of Innovations, 1, 128-135. http://doi.org/10.21272/mmi.2020.1-10

Dzwigol, H. (2020b). Methodological and Empirical Platform of Triangulation in Strategic Management. Academy of Strategic Management Journal, 19(4), 1-8.

Dźwigoł, H. (2020c). Interim Management as a New Approach to the Company Management. Review of Business and Economics Studies, 8(1), 20-26. https://doi.org/10.26794/2308-944X-2020-8-1-20-26

Dzwigol, H., & Wolniak, R. (2018). Controlling w procesie zarządzania chemicznym przedsiębiorstwem produkcyjnym [Controlling in the management process of a chemical industry production company]. Przemysl Chemiczny, 97(7), 1114—1116. https://doi.org/10.15199/62.2018.7.15

Dzwigol, H., & Dźwigoł-Barosz, M. (2018). Scientific Research Methodology in Management Sciences. Financial and Credit Activity: Problems of Theory and Practice, 2(25), 424-437. https://doi.org/10.18371/fcaptp.v2i25.136508

Dzwigol, H., & Dzwigol-Barosz, M. (2020). Sustainable Development of the Company on the Basis of Expert Assessment of the Investment Strategy. Academy of Strategic Management Journal, 19(5), 1-7.

Dzwigol, H., Shcherbak, S., Semikina, M., Vinichenko, O., & Vasiuta, V. (2019a). Formation of Strategic Change Management System at an Enterprise. Academy of Strategic Management Journal, 18(SI1), 1-8.

Dzwigol, H., Aleinikova, O., Umanska, Y., Shmygol, N., & Pushak, Y. (2019b). An Entrepreneurship Model for Assessing the Investment Attractiveness of Regions. Journal of Entrepreneurship Education, 22(1S), 1-7.

Dzwigoł, H., Dzwigoł–Barosz, M., Zhyvko, Z., Miskiewicz, R., & Pushak, H. (2019c). Evaluation of the Energy Security as a Component of National Security of the Country. Journal of Security and Sustainability Issues, 8(3), 307-317. http://doi.org/10.9770/jssi.2019.8.3(2)

Dzwigol, H., Dźwigoł–Barosz, M., & Kwilinski, A. (2020a). Formation of Global Competitive Enterprise Environment Based on Industry 4.0 Concept. International Journal of Entrepreneurship, 24(1), 1-5.

Dzwigol, H., Dzwigol-Barosz, M., Miskiewicz, R., & Kwilinski, A. (2020b). Manager Competency Assessment Model in the Conditions of Industry 4.0. Entrepreneurship and Sustainability Issues, 7(4), 2630-2644. https://doi.org/10.9770/jesi.2020.7.4(5)

Eurostat (2020). Population by educational attainment level, sex and age. Eurostat. Retrieved from http://appsso.eurostat.ec.europa.eu/nui/submitViewTableAction.do

Ford, M. (2016). Rise of the Robots: Technology and the Threat of a Jobless Future. Moskow: Alpina non-fiction. [in Russian].

Frey, C., & Osborne, M. (2013). The future of employment: How susceptible are jobs to computerisation? Retrieved from http://www.oxfordmartin.ox.ac.uk/downloads/academic/future-of-employment.pdf

Furmaniak, S., Gauden, P.A., Patrykiejew, A., Miśkiewicz, R., & Kowalczyk, P. (2018). Carbon Nanohorns as Reaction Nanochambers – a Systematic Monte Carlo Study. Scientific Reports, 15407. https://doi.org/10.1038/s41598-018-33725-z

Furmaniak, S., Gauden, P.A., Patrykiejew, A., Miskiewicz, R., & Kowalczyk, P. (2019a). The Effects of Confinement in Pores Built of Folded Graphene Sheets on the Equilibrium of Nitrogen Monoxide Dimerisation Reaction. Journal of Physics Condensed Matter, 31(13), 135001, 1-12. https://doi.org/10.1088/1361-648X/aaffb3

Furmaniak, S., Gauden, P.A., Patrykiejew, A., Szymański, G., Miśkiewicz, R., & Kowalczyk, P. (2019b). In Silico Study on the Effects of Carbonyl Groups on Chemical Equilibrium of Reactions with a Polar Product Occurring under Confinement in Pores of Activated Carbons. Chemical Engineering Communications, 1-12. https://doi.org/10.1080/00986445.2019.1700115

Grossman, M. (1972). On the Concept of Health Capital and the Demand for Health. Journal of Political Economy, 2, 223-255.

Hanushek, E., Jamison, D., Jamison, E., & Woessmann, L. (2008). Education and Economic Growth. Education Next, vol. 8, No 2.

IZA (2018). New Education Models for the Workforce of the Future. IZA Policy Paper, No 143. Retrieved from http://ftp.iza.org/pp143.pdf

Jamel, L., Ben Ltaifa, M., Elnagar, A.K., Derbali, A., & Lamouchi, A. (2020). The Nexus between Education and Economic Growth: Analyzing Empirically a Case of Middle-Income Countries. Virtual Economics, 3(2), 43-60. https://doi.org/10.34021/ve.2020.03.02(3)

Judson, R. (1998). Economic Growth and Investment in Education: How Allocation Matters. Journal of Economic Growth, 3(4), 337-359. https://doi.org/10.2307/40215992

Kharazishvili, Y., Kwilinski, A., Grishnova, O., & Dzwigol, H. (2020). Social Safety of Society for Developing Countries to Meet Sustainable Development Standards: Indicators, Level, Strategic Benchmarks (with Calculations Based on the Case Study of Ukraine). Sustainability, 12(21), 8953. https://doi.org/10.3390/su12218953

Kokotovic, F. (2016). A panel regression analysis of human capital relevance in selected Scandinavian and SE European countries. UTMS Journal of Economics, 7(1), 13-24.

Kondratenko, V., Okopnyk, O., Ziganto, L., & Kwilinski, A. (2020). Innovation Development of Public Administration: Management and Legislation Features. Marketing and Management of Innovations, 1, 87-94. https://doi.org/10.21272/mmi.2020.1-06

Kuzior, A., Kwilinski, A., & Tkachenko, V. (2019). Sustainable Development of Organizations Based on the Combinatorial Model of Artificial Intelligence. Entrepreneurship and Sustainability, 7(2), 1353-1376. http://doi.org/10.9770/jesi.2019.7.2(39)

Kwilinski, A. (2017). Development of Industrial Enterprise in the Conditions of Formation of Information Economics. Thai Science Review, Autumn 2017, 85-90. https://doi.org/10.5281/zenodo.1414236

Kwilinski, A. (2018a). Mechanism of Formation of Industrial Enterprise Development Strategy in the Information Economy. Virtual Economics, 1(1), 7-25. https://doi.org/10.34021/ve.2018.01.01(1)

Кwilinski, A. (2018b). Mechanism of Modernization of Industrial Sphere of Industrial Enterprise in Accordance with Requirements of the Information Economy. Marketing and Management of Innovations, 4, 116-128. http://doi.org/10.21272/mmi.2018.4-11

Kwilinski, A. (2018c). Mechanism for Assessing the Competitiveness of an Industrial Enterprise in the Information Economy. Research Papers in Economics and Finance, 3(1), 7-16. https://doi.org/10.18559/ref.2018.1.1

Kwilinski, A. (2018d). Trends of Development of the Information Economy of Ukraine in the Context of Ensuring the Communicative Component of Industrial Enterprises. Economics and Management, 1(77), 64-70.

Кwilinski, A. (2019). Implementation of Blockchain Technology in Accounting Sphere. Academy of Accounting and Financial Studies Journal, 23(SI2), 1-6.

Kwilinski, A., Tkachenko, V., & Kuzior, A. (2019a). Transparent Cognitive Technologies to Ensure Sustainable Society Development. Journal of Security and Sustainability Issues, 9(2), 561-570 http://doi.org/10.9770/jssi.2019.9.2(15)

Kwilinski, A., Drobyazko, S., & Derevyanko, B. (2019b). Synergetic and Value Effects in Corporate Mergers and Acquisitions of International Companies. In Khalid S. Soliman (Ed.), Proceedings of the 34th International Business Information Management Association Conference (IBIMA) 13-14 November 2019. Vision 2025: Education Excellence and Management of Innovations through Sustainable Economic Competitive Advantage in 2019 (pp. 9467-9471). Madrid, Spain: IBIMA Publishing.

Kwilinski, A., Dalevska, N., Kravchenko, S., Hroznyi, I., Kovalenko, I. (2019c). Formation of the Entrepreneurship Model of E-Business in the Context of the Introduction of Information and Communication Technologies. Journal of Entrepreneurship Education, 22(SI1), 1528-2651-22-S1-337: 1-7.

Kwilinski, A., Ruzhytskyi, I., Patlachuk, V., Patlachuk, O., & Kaminska, B. (2019d). Environmental Taxes as a Condition of Business Responsibility in the Conditions of Sustainable Development. Journal of Legal, Ethical and Regulatory Issues, 22(SI2) 1544-0044-22-SI-2-354: 1-6.

Kwilinski, A., Volynets, R., Berdnik, I., Holovko, M., & Berzin, P. (2019e). E-Commerce: Concept and Legal Regulation in Modern Economic Conditions. Journal of Legal, Ethical and Regulatory Issues, 22(SI2), 1544-0044-22-SI-2-357: 1-6.

Kwilinski, A., Dzwigol, H., & Dementyev, V. (2019f). Transnational Corporations as Entities of International Entrepreneurship. International Journal of Entrepreneurship, 23(SI4), 1-6.

Kwilinski, A., Pajak, K., Halachenko, O., Vasylchak, S., Pushak, Ya., & Kuzior, P. (2019g). Marketing Tools for Improving Enterprise Performance in the Context of Social and Economic Security of the State: Innovative Approaches to Assessment. Marketing and Management of Innovations, 4, 172-181. http://doi.org/10.21272/mmi.2019.4-14

Kwilinski, A., & Kuzior, A. (2020). Cognitive Technologies in the Management and Formation of Directions of the Priority Development of Industrial Enterprises. Management Systems in Production Engineering, 28(2), 119-123. http://doi.org/10.1515/mspe-2019-0020

Kwilinski, A., Vyshnevskyi, O., & Dzwigol, H. (2020a). Digitalization of the EU Economies and People at Risk of Poverty or Social Exclusion. Journal of Risk and Financial Management, 13(7), 142. https://doi.org/10.3390/jrfm13070142

Kwilinski, A., Zaloznova, Y., Trushkina, N., & Rynkevych, N. (2020b). Organizational and Methodological Support for Ukrainian Coal Enterprises Marketing Activity Improvement. E3S Web of Conferences, 168, 00031. https://doi.org/10.1051/e3sconf/202016800031

Kwilinski, A., Dielini, M., Mazuryk, O., Filippov, V., & Kitseliuk, V. (2020c). System Constructs for the Investment Security of a Country. Journal of Security and Sustainability Issues, 10(1), 345-358. https://doi.org/10.9770/jssi.2020.10.1(25)

Kwilinski, A., Shteingauz, D., & Maslov, V. (2020d). Financial and Credit Instruments for Ensuring Effective Functioning of the Residential Real Estate Market. Financial and Credit Activities: Problems of Theory and Practice. 3(34), 133-140. Retrieved from https://fkd.ubs.edu.ua/index.php/fkd/article/view/3023

Lakhno, V., Malyukov, V., Bochulia, T., Hipters, Z., Kwilinski, A., & Tomashevska, O. (2018). Model of Managing of the Procedure of Mutual Financial Investing in Information Technologies and Smart City Systems. International Journal of Civil Engineering and Technology, 9(8), 1802-1812.

Lau, L. J., Jamison, D. T., Lin, S.-C., & Rivkin, S. (1993). Education and Economic Growth. Some Cross-sectional Evidence from Brazil. Journal of Development Economics, 41, 45–70. https://doi.org/10.1016/0304-3878(93)90036-M

Mankiw, N., Romer, D., & Weil, D. (1992). A contribution to the empirics of economic growth. Quarterly Journal of Economics, 107, 407-437. https://doi.org/10.2307/2118477

ManpowerGroup (2019). Humans Wanted: Robots Need You. Skills revolution 4.0. Retrieved from https://www.manpowergroup.com/workforce-insights/world-of-work/skills-revolution-series

Miskiewicz, R. (2017a). Knowledge in the Process of Enterprise Acquisition. Progress in Economic Sciences, 4, 415-432. https://doi.org/10.14595/PES/04/029

Miskiewicz, R. (2017b). Knowledge Transfer in Merger and Acquisition Processes in the Metallurgical Industry. Warsaw: PWN.

Miskiewicz, R. (2018). The Importance of Knowledge Transfer on the Energy Market. Polityka Energetyczna, 21(2), 49-62. http://dx.doi.org/10.24425%2F122774

Miskiewicz, R. (2019). Challenges Facing Management Practice in the Light of Industry 4.0: The Example of Poland. Virtual Economics, 2(2), 37-47. https://doi.org/10.34021/ve.2019.02.02(2)

Miskiewicz, R. (2020a). Internet of Things in Marketing: Bibliometric Analysis. Marketing and Management of Innovations, 3, 371-381. http://doi.org/10.21272/mmi.2020.3-27

Miskiewicz, R. (2020b). Efficiency of Electricity Production Technology from Post-Process Gas Heat: Ecological, Economic and Social Benefits. Energies, 13(22), 6106. https://doi.org/10.3390/en13226106

Miśkiewicz, R, & Wolniak, R. (2020). Practical Application of the Industry 4.0 Concept in a Steel Company. Sustainability, 12(14), 5776. https://doi.org/10.3390/su12145776

McKinsey & Company (2017). Jobs lost, jobs gained: Workforce transitions in a time of automation. NY: McKinsey Global Institute.

Nelson, R., & Phelps, E. (1966). Investment in Humans, Technological Diffusion and Economic Growth. American Economic Review, 61, 69-75. Retrieved from https://www.jstor.org/stable/1821269

Nordhaug, O. (1993). Human Capital in Organizations: Competence, Training and Learning. Oslo: Scandinavian University Press.

OECD (2017a). Education policy outlook: Latvia. Paris: OECD Publishing.

OECD (2017b). Education in Lithuania. OECD reviews of national policies for education. Paris: OECD Publishing.

OECD (2019a). Education at a Glance 2019: Latvia. OECD indicators. Paris: OECD Publishing.

OECD (2019b). Education at a Glance 2019: Lithuania. OECD indicators. Paris: OECD Publishing.

OECD (2020a). Educational finance indicators. Financial resources invested in education. Education and Training. OECD. Retrieved from https://stats.oecd.org/Index.aspx?DataSetCode

OECD (2020b). Productivity. Level of GDP per capita and productivity. OECD. Retrieved from https://stats.oecd.org/Index.aspx?DataSetCode=PDB_LV

Osvita (2015). The burden on university teachers will decrease. Higher education reform. Retrieved from http://osvita.ua/vnz/reform/45788/ [in Ukrainian].

Pająk, K., Kamińska, B., & Kvilinskyi, O. (2016). Modern Trends of Financial Sector Development under the Virtual Regionalization Conditions. Financial and Credit Activity: Problems of Theory and Practice, 2(21), 204-217. https://doi.org/10.18371/fcaptp.v2i21.91052

Pająk, K., Kvilinskyi, O., Fasiecka, O., & Miskiewicz, R. (2017). Energy security in regional policy in Wielkopolska region of Poland. Economics and Environment, 2(61), 122-138.

Pankova, O., Ishchenko, O., & Kasperovich, O. (2020). Labour and employment in a digital transformation: priorities for Ukraine in the context of global trends and formation of Industry 4.0. Economy of Industry, 2(90), 133-160. http://doi.org/10.15407/econindustry2020.02.133 [in Ukrainian].

Pelinescu, E. (2015). The impact of human capital on economic growth. Procedia Economics and Finance, 22, 184-190.

Prokopenko, O., & Miśkiewicz, R. (2020). Perception of "Green Shipping" in the Contemporary Conditions. Entrepreneurship and Sustainability Issues, 8(2), 269-284. https://doi.org/10.9770/jesi.2020.8.2(16)

Radulescu, M., Fedajev, A., Sinisi, C. I., Popescu, C., & Iacob, S. E. (2018). Europe 2020 Implementation as Driver of Economic Performance and Competitiveness. Panel Analysis of CEE Countries. Sustainability, 10(3), 566. http://doi.org/10.3390/su10020566

Romer, P. (1990). Endogenous Technological Change. Journal of Political Economy, 98(5), 71-102.

Rosenzweig, M.R. (1990). Population Growth and Human Capital Investments: Theory and Evidence. Journal of Political Economy, 98(5), 38-70. https://doi.org/10.2307/2937631

Saługa, P.W., Szczepańska-Woszczyna, K., Miśkiewicz, R., & Chłąd, M. (2020). Cost of Equity of Coal-Fired Power Generation Projects in Poland: Its Importance for the Management of Decision-Making Process. Energies, 13(18), 4833.https://doi.org/10.3390/en13184833

Savchenko, T., Basiurkina, N., Rodina, O., & Kwilinski, A. (2019). Improvement of the Assessment Methods of Product Competitiveness of the Specialized Poultry Enterprises. Management Theory and Studies for Rural Business and Infrastructure Development, 41(1), 43-61. https://doi.org/10.15544/mts.2019.05

Schultz, T. (1960). Capital Formation by Education. Journal of Political Economy, 68(6), 571-583.

Schultz, T. (1961). Investment in Human Capital. The American Economic Review, 51(1), 1-17.

State Statistics Service of Ukraine (2020). Retrieved from http://www.ukrstat.gov.ua/ [in Ukrainian].

Stiglitz, J. (2014). Unemployment and Innovation. Retrieved from https://www.nber.org/papers/w20670.pdf

Teixeira, A., & Queirosb, A. (2016) Economic growth, human capital and structural change: A dynamic panel data analysis. Research Policy, 45(8), 1636-1648. http://doi.org/10.1016/j.respol.2016.04.006

The Cabinet of Ministers of Ukraine (2019). Resolution: On the distribution of state budget expenditures between higher education institutions on the basis of indicators of their educational, scientific and international activities of December 24, № 1146. The Cabinet of Ministers of Ukraine. Retrieved from https://zakon.rada.gov.ua/laws/show/1146-2019-%D0%BF [in Ukrainian].

The Cabinet of Ministers of Ukraine (2020). Resolution: Some issues of introducing indicative cost on March 3, № 191. The Cabinet of Ministers of Ukraine. Retrieved from https://zakon.rada.gov.ua/laws/show/191-2020-%D0%BF [in Ukrainian].

Thurow, L. C. (1970). Investment in Human Capital. Wadsworth Series in Labor Economics and Industrial Relations. Belmont, California: Wadsworth Publishing Company.

Tkachenko, V., Kwilinski, A., Korystin, O., Svyrydiuk, N., & Tkachenko, I. (2019a). Assessment of Information Technologies Influence on Financial Security of Economy. Journal of Security and Sustainability, 8(3), 375-385. http://doi.org/10.9770/jssi.2019.8.3(7)

Tkachenko, V., Kwilinski, A., Klymchuk, M., & Tkachenko, I. (2019b). The Economic-Mathematical Development of Buildings Construction Model Optimization on the Basis of Digital Economy. Management Systems in Production Engineering, 27(2), 119-123. http://doi.org/10.1515/mspe-2019-0020

Tkachenko, V., Kwilinski, A., Tkachenko, I., & Puzyrova, P. (2019c). Theoretical and Methodical Approaches to the Definition of Marketing Risks Management Concept at Industrial Enterprises. Marketing and Management of Innovations, 2, 228-238. http://doi.org/10.21272/mmi.2019.2-20

Tkachenko, V., Kwilinski, A., Kaminska, B., Tkachenko, I., & Puzyrova, P. (2019d). Development and Effectiveness of Financial Potential Management of Enterprises in Modern Conditions. Financial and Credit Activity: Problems of Theory and Practice, 3(30), 85-94. https://doi.org/10.18371/fcaptp.v3i30.179513

Tkachenko, V., Kuzior, A., & Kwilinski, A. (2019e). Introduction of Artificial Intelligence Tools into the Training Methods of Entrepreneurship Activities. Journal of Entrepreneurship Education, 22(6), 1-10.

UNESCO (2016). Education for people and planet: creating sustainable futures for all. Global education monitoring report. Paris, France: UNESCO Publishing.

Verkhovna Rada of Ukraine (2017). Law of Ukraine: On education of September 5, № 2145-VIII. Verkhovna Rada of Ukraine. Retrieved from: https://zakon.rada.gov.ua/laws/show/2145-19 [in Ukrainian].

Vishnevsky, V. P., & Knjazev, S. I. (2017). Smart industry: prospects and problems. Economy of Ukraine, 7(660), 22-37 [in Russian].

Vyshnevskyi, O. (2020). Impact of Digitalization on Industry: Problems of Definitionin EU Countries. Economy of Industry, 1(89), 31-44. http://doi.org/10.15407/econindustry2020.01.031 [in Ukrainian].

Vyshnevskyi, V. P. (Ed.). (2019). Smart Industry: Direct Formation, Problems and Solutions. Kyiv: Institute of Industrial Economics of NAS of Ukraine. [in Ukrainian].

Yelnikova, Y., & Miskiewicz, R. (2020). Implementation Mechanism of Impact Investing in the Post-Conflict Regions. Financial Markets. Institutions and Risks, 4(3), 53-65. https://doi.org/10.21272/fmir.4(3).53-62.2020

Abstract views: 207
PDF Downloads: 78
Published
2020-10-31
How to Cite
Vorhach, O. (2020). Empirical Evaluation of the Education Expenditure Impact on Economic Growth. Virtual Economics, 3(4), 48-71. https://doi.org/10.34021/ve.2020.03.04(3)
Section
Articles