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RISS 인기검색어
- 검색키워드
- 저자 : Panagiotis Pegkas (검색결과 3 건)
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Does Higher Education Affect Economic Growth? The Case of Greece
Panagiotis Pegkas,Constantinos Tsamadias 한국국제경제학회 2014 International Economic Journal Vol.28 No.3
The purpose of the study is twofold: first, it presents an extensive review of empirical studies that have examined the relationship between higher education and economic growth. Second, it estimates the effect of higher education on economic growth in Greece over the period 1960–2009. It applies the model introduced by Mankiw, Romer, and Weil (1992) by using the higher enrolment rates as a proxy of human capital. The paper employs cointegration and an error-correction model to test the causal relationship between higher education, physical capital investments and economic growth. The empirical analysis reveals that there is a long-run cointegrating relationship between higher education, physical capital investments and economic growth. The elasticity of economic growth with respect to higher education is 0.52%. The results also suggest that there is evidence of unidirectional long-run and short-run Granger causality running fromhigher education and physical capital investments to economic growth.
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Pegkas Panagiotis,Staikouras Christos,Tsamadias Constantinos 한국국제경제학회 2020 International Economic Journal Vol.34 No.2
The purpose of this study is to empirically investigate the impact of domestic and foreign R&D capital on TFP in the Eurozone countries over the period 1995–2016. The variations in the TFP level for each country are explained by the changes in both the domestic and foreign R&D capital. Total domestic R&D capital is divided into three sectors, namely business, public and higher education. This specification allows to explore the role of certain variables in the long-run evolution of TFP in Eurozone countries. The results indicate that all variables of R&D capital have a positive contribution to TFP. Foreign R&D capital appears to have higher contribution to the TFP level than domestic R&D capital in all estimations and specifications. The impact of higher education R&D capital is larger than that of the business and public. The estimations are related to the productivity slowdown, especially over the period of economic crisis, and the high degree of differences in income per capita and productivity levels among the Eurozone member states. The results point to the need for policy actions to increase the available domestic R&D capital in all countries and improve the technology diffusion among them within the Eurozone.
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On the determinants of economic growth: Empirical evidence from the Eurozone countries
Pegkas Panagiotis,Staikouras Christos,Tsamadias Constantinos 한국외국어대학교 국제지역연구센터 2020 International Area Studies Review Vol.23 No.2
This study empirically investigates the causal relationship between economic growth and several factors (investment, human capital, trade openness and public debt) in the Eurozone countries, where imbalances persist several years after the financial crisis. The results reveal a long-run relationship between variables and public debt, as investment, human capital and trade openness positively affect growth. On the other hand, there is a negative long-run effect of public debt on growth. Furthermore, the results indicate that there is long-run unidirectional causality running from investment, trade openness and human capital to growth and bidirectional causality between public debt and growth. The overall results reveal that Eurozone countries should base their growth strategies on fiscal consolidation, increasing exports, correcting the use of public investment and improving the quality of human capital, especially in higher education.
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