TITLE:
Education and Economic Development: An Empirical Analysis for Greece
AUTHORS:
Antonios Adamopoulos
KEYWORDS:
Education, Economic Development, Monte Carlo Simulation, Granger Causality
JOURNAL NAME:
Theoretical Economics Letters,
Vol.13 No.7,
December
28,
2023
ABSTRACT: This paper inquires the interrelation between
education and economic development for Greece taking into
consideration the impact of employment, productivity 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.