The Role of Business Education Provided Through Lifelong Learning in Enhancing Profesional Competencies. Evidence from the Eu-27 Dataset

• Main Authors: Vlad Dumitrache, Monica Răileanu-Szeles
• Format: Article
• Language: English
• Published: Academy of Economic Studies of Bucharest 2014-08-01
• Series: Amfiteatru Economic
• Subjects: business education; lifelong learning; economic growth
• Online Access: http://www.amfiteatrueconomic.ro/ArticolEN.aspx?CodArticol=1320
• ISSN: 1582-9146; 2247-9104

This paper examines the macroeconomic implications of business education provided by the process of lifelong learning, based on a panel dataset comprising the EU-27 countries. Business education is a valuable component of adult education, and the lifelong learning represents the main channel facilitating the transfer of this knowledge. A number of three panel regression models are conducted separately for the New Member States (NMS) and Old Member States (OMS). The positive effects of business education on economic growth and duration of working life are found to be more significant and powerful in the NMS than in the OMS. The empirical analysis also shows that business education is a determinant of the subjective poverty reduction only in the OMS, while the third-level education attainment contributes to the poverty reduction in the NMS, only when been accompanied by business education.