Educational attainment and economic growth in evidence from new EU Member States

Abstract

Educational attainment is a crucial factor underlying economic growth and development. In this study, the mutual interaction between educational attainment and economic growth is investigated in sample of the new European Union member states, which experienced a structural transformation in institutional, economic, and political fields, over the 1996–2019 term by means of causality test. The consequences of causality analysis revealed a bidirectional causal interaction between educational attainment and economic growth. In other words, on the one hand educational attainment has a significant influence on economic growth, on the other hand economic growth has a significant influence on educational attainment.