Empirical Modeling of Education Expenditures for Balkans: Evidence from Panel FMOLS and DOLS Estimations
Autori:
Vedat YORUCU, Dervis KIRIKKALELI
Cod: ISSN: 1583-3410 (print), ISSN: 1584-5397 (electronic)
Dimensiuni: pp. 88-101
How to cite this article:Yorucu, V., Kirikkaleli, D. (2017). Empirical Modeling of Education Expenditures for Balkans: Evidence from Panel FMOLS and DOLS Estimations. Revista de Cercetare si Interventie Sociala, 56, 88-101. |
Abstract:
The focal point of this study is to investigate the possible determinants of
public education expenditures for Balkan countries. Panel cointegration, FMOLS,
DOLS, panel causality tests have been conducted throughout this study. The
empirical findings reveal that GDP per capita income, economic stability, school
enrolments and technological development are found to be the main determinants
which have dynamic significant relationships on public education expenditures in
the long-run. Dumitrescu-Hurlin panel causality test with individual coefficients
mirror (i) bi-directional causalities between education expenditures and school
enrolments and between education expenditures and GDP per capita income; (ii)
unidirectional causalities running from technological development to education
expenditures and from education expenditures to financial risk.
Keywords:
Balkans, Education Expenditure, FMOLS and DOLS, Panel Causality, Panel Cointegration.
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