THE EFFECT OF EDUCATION AND HEALTH CARE EXPENDITURE ON GDP IN EU COUNTRIES

Authors

DOI:

https://doi.org/10.35774/jee2021.03.423

Keywords:

Public financial policy, economic growth, influencing factors.

Abstract

The paper analyses the peculiarities of public expenditure on education and health care in eight EU countries grouped by population. Trends in the outcomes are revealed. Applying correlation and regression analysis to Eurostat data, the significance of influence of these expenditure on GDP during 2011-2019 is determined. It is established that health care expenditure have a positive effect in all countries, while education expenditure have not had a significant impact on economic development in some countries. These expenditure are proven to have a varying influence on GDP depending on budget capacity of any given country, government priorities, effectiveness of use and support for dynamic financing.

JEL: I18, I28, 011.

Author Biographies

Ludmila GORDIENKO, Rauf Ablyazov East European University, Cherkasy

Doctor of Economic Sciences, Associate Professor, Head of the Department of Marketing, Finance, Banking and Insurance

Yurii PASICHNYK, The National Scientific Centre «Institute of Agrarian Economics», Kyiv

Doctor of Economic Sciences, Professor, main researcher of the department of financial and credit and tax policy

Yuliya SMAKOVSKAYA, Rauf Ablyazov East European University, Cherkasy

Deputy Director of the College of Economics and Management

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Received: August 1, 2021.

Reviewed: August 5, 2021.

Accepted: August 11, 2021.

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Published

25.11.2021

How to Cite

GORDIENKO, Ludmila, et al. “THE EFFECT OF EDUCATION AND HEALTH CARE EXPENDITURE ON GDP IN EU COUNTRIES”. Journal of European Economy, vol. 20, no. 3, Nov. 2021, pp. 424-41, doi:10.35774/jee2021.03.423.

Issue

Vol. 20 No. 3 (2021): JOURNAL OF EUROPEAN ECONOMY

Section

MACROECONOMICS

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