Theoretical and Applied Economics (May 2024)
Policies in education, an analysis of the current study of knowledge
Abstract
The degree of economic development and the performance of the educational system prepresent two interdependent components of society that leave their mark on the level of development of each individual and the social system in general. A significant number of researchers highlight the fundamental link between education and economic development by mentioning various causal relationships between the two phenomena. The multitude of opinions expressed shows the importance of this topic for the understanding of the social phenomenon, but at the same time, it demonstrates a high degree of heterogeneity of the elaborated studies, in this context, a systematization of perspectives on the education-economic growth relationship is necessary which could be useful in clearer understanding of the results obtained through these studies. The main objective of this research is the identification and analysis of the most relevant educational public policies applied in various countries over time. The analysis highlights the impact of these policies on the educational system, as well as how public investment in education has to an increase in educational and economic performance. Following this research, a series of relevant results emerged that show the intrinsic link between investment and economic performance, and the main conclusion of the study highlights the fact that the stability and predictability of public policies in education is one of the essential factors for increasing the performance of educational system from a country. Education is the enterprise of the domains of life, it includes behavior in the educational environment, having medium and long-term effects. The competitiveness of a nation is when a rich country has educated and rich individuals. The level of competitiveness generates well-being, wellbeing comes from education and produces: the growth of human capital and its development, the growth of technological progress, macroeconomic stability and the growth of microeconomic indicators, corporate governance, its functioning.
