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Education is one of the key factors of economic growth. Despite the huge amount of researches investigating the relationship between education and GDP as a proxy of well-being, to the best of our knowledge, none of these studies examined a group of post-socialist countries comparing with not-post-socialist countries. This paper aims to fill this gap. We examine the correlation between growth and education with panel data evidence for 18 post-socialist (PS) countries and 16 developed market economies (DME) over the 1990–2014 period. The goal of this paper is to test two hypotheses: (i) The relationship between GDP per capita and tertiary education’s enrolment rate is stronger in the post-socialist countries than in other countries. (ii) In the post-socialist countries, the relationship between GDP per capita and tertiary education’s enrolment rate is stronger than the relationship between GDP per capita and any other level of education. Correlation analyses confirmed both hypotheses. Our findings suggest that the patterns of relationship between GDP and measures of tertiary education are different for PS and DME countries and would be interesting to observe when and how the gap between the patterns disappears.

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. Arellano , M. – Bond , S. ( 1991 ): Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations . Review of Economic Studies , 58 ( 2 ): 277 – 297

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Hoshi, T., Kashyap, A. and Scharfstein, D. (1991): Corporate Structure and Investment: Evidence from Japanese Panel Data. Quarterly Journal of Economics , 105: 1, pp. 33-60. Corporate Structure and Investment: Evidence from

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217 Wooldridge, J. M. (2002): Econometric Analysis of Cross-section and Panel Data. Cambridge, Mass.: The MIT Press. Econometric Analysis of Cross

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Kumbhakar S., Bhattacharyya A. Productivity growth in passenger-bus transportation, a heteroskedastic error component model with unbalanced panel data, Empirical Economics , Vol. 21, 1996, pp. 557–573. Bhattacharyya

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. – Bond , S. R. ( 1991 ): Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations . Review of Economic Studies , 58 ( 2 ): 277 – 297

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64 73 Akça, H. - Ata, A.Y. - Karaca, C. (2012): Inflation and Corruption Relationship: Evidence from Panel Data in Developed and Developing Countries. International Journal of

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Acta Oeconomica
Authors: José Augusto Lopes Da Veiga, Alexandra Ferreira-Lopes, Tiago Neves Sequeira, and Marcelo Serra Santos

Growth in South Africa (1975–2011) . Mediterranean Journal of Social Sciences , 4 ( 13 ): 761 – 772 . Chudik , A. – Pesaran , M. H. ( 2015 ): Panel Data Models with Weakly

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://www.imf.org/external/pubs/ft/weo/2016/01/weodata/index.aspx Judson , R. – Owen , A. L. ( 1997 ): Estimating Dynamic Panel Data Models: A Practical Guide for Macroeconomists . Finance and Economics Discussion

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study. This paper applies panel data model to verify the four hypotheses. This study explores the influences of the three aspects of patent trait—RTA MIT , RPP MIT , and PS MIT —upon corporate growth. In addition, this study also discusses the moderation

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