A Nexus among Institutions, Education and Economic Growth: An Analysis of Developing Countries

Asian Economic and Financial Review

article

Adeeba Sarwar¹  Muhammad Azmat Hayat² 

[1] PhD Scholar at the Department of Economics, University of the Punjab Lahore;Associate Professor of Economics at the University of the Punjab Lahore

关键词: Control of corruption;    Education;    Rule of law;    Economic growth;    Institution;    Absence of violence;    Political stability.;   

DOI  :  10.18488/journal.aefr.2021.111.30.42

学科分类：社会科学、人文和艺术（综合）

来源: Asian Economic and Social Society

【 摘 要 】

This study investigates linkages among institutions, education and economic growth empirically and theoretically and is based on panel data between 1996 and 2017. For the panel data, two-stage least squares (2SLS) regression analysis was used to estimate the results in developing countries. Rule of law, control of corruption, absence of violence and political stability were used as proxies for institution. We found that economic growth exerted positive and significant effects on education, control of corruption, absence of violence and political stability. Rule of law, absence of violence, political stability and control of corruption have positive and significant effects on education, and education has a negative and significant effect on absence of violence and political stability but a positive and significant effect on rule of law and economic growth. Hence, results show that institutions positively affect economic growth through education and a difference in institutional quality is the key to differences in education among countries.

【 授权许可】

CC BY