Economic growth and development effect of education: Cointegration analysis for Turkey

Abstract

Economic theory proposes that there is a connection between education level and efficiency, and a person contribute to the society related with his education level. Also it is accepted that characteristics of education activities effects economic, social and cultural development of the society. Human capital is of great importance for social and economic progress. Qualified work force is resulted from the education level. Investment for the human capital implied education investments which provide the increase literacy rate and information-ability levels. This is really important for both underdeveloped and developed countries. So education investments should be analyzed for understanding the effects on growth and development. Therefore, the aim of this paper is to investigate the relationship between education investments and economic growth for Turkey. We used cointegration technique for the period from 1980 to 2011.