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    The effect of educational spending on GDP growth a panel data analysis
    (İstanbul Bilgi Üniversitesi, 2020) Uzuner, Ahmet; Öztürk, Serda Selin
    ABSTRACT: Economic growth and constitutional changes of community is only achievable with physical and human capital. The power of a country depends on the grade of education and knowledge that the citizens of that country have. The most critical element of human capital can be characterized as education. Increase of education level will also escalate human capital. Recent studies on the literature on economic growth have highlighted the role of human capital. Some of these empirical studies examined the aspect of educational spending on GDP growth and focused on this relationship. In this paper the impact of educational spending on GDP growth has been tested by a panel data analysis. This analysis consists of two different groups of 5 countries, one of which is OECD countries (Turkey, Finland, Switzerland, France and Denmark) and the other of which is World countries (Turkey, Switzerland, Hongkong, South Africa and Argentina) for the period from 2011 to 2018. In addition to educational spending, other explanatory variables such as inflation and average currency rate were used in the analysis. In the study, for both groups, the relationship have been tested by using Pedroni cointegration and panel least squares methods. According to results, there is a positive and significant relationship between educational spending and GDP growth.