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A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Sustainable Education and Approaches".

Deadline for manuscript submissions: closed (31 December 2020) | Viewed by 85523

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Prof. Dr. Tin-Chun Lin

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School of Business and Economics, Indiana University – Northwest 3400 Broadway, Gary, IN 46408, USA
Interests: economics of education; economic growth and development; tax and fiscal; money and monetary policy; consumer behavior and restaurant tipping; economic education
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue consists of articles that investigate and discuss the relationship between economics of education and sustainable development. That is, how education economics plays an important role in sustainable development. Economics of education or education economics is the study of economic issue relating to education (such as education policy and finance, human capital production and acquisition, and the returns to human capital); while sustainable development is the study a system (a human society) operating and growing continuously, which includes environment, economy, industry, business, agriculture, etc. This special issue particularly focuses on the economy—how an economy continuously and steadily develops and grows. One of the key factors attributes to a country’s economic development and growth is human capital or education. When the percentage of educated workers in a country significantly increases, the country’s economy will become stronger, implying more productive and competitive. This is because educated workers can more efficiently implement tasks that requires literacy, critical thinking, and technological skills, and hence improves a country’s productivity and competitive advantages.

Authors from different disciplines, such as economics, education, social science, and other disciplines related to economics of education and sustainable development issue are invited to submit their papers. All theoretical and empirical research articles are welcome in this Special Issue. However, no matter what theoretical or empirical studies, authors are highly expected to provide economic theoretical or empirical models and economic analysis.

Prof. Dr. Tin-Chun Lin
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

Education economics and sustainable development
Education and economic growth
Human capital
Teacher salaries
The role of government in education
Taxation for education
Financing education
Production and cost functions in education

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Published Papers (13 papers)

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Research

28 pages, 821 KiB

Open AccessArticle

The Impact of Higher Education on Economic Growth in ASEAN-5 Countries

by Paravee Maneejuk and Woraphon Yamaka

Sustainability 2021, 13(2), 520; https://doi.org/10.3390/su13020520 - 7 Jan 2021

Cited by 56 | Viewed by 16106

Abstract

This study analyzed the nonlinear impacts of education, particularly higher education, on economic growth in the ASEAN-5 countries (i.e., Thailand, Indonesia, Malaysia, Singapore, and the Philippines) over the period 2000–2018. The impacts of education on economic growth are assessed through various education indicators, consisting of public expenditure on tertiary education per student, enrolment rates of primary, secondary, and tertiary levels, educated workforce, and the novel indicator of unemployment rates with advanced education. This study establishes nonlinear regression models—the time-series kink regression and the panel kink regression—to investigate the kink effects of education on the individual country’s economic growth and the ASEAN-5 region, respectively. There are three main findings. Firstly, the nonlinear effects of the government expenditure per tertiary student on economic growth are confirmed for the ASEAN-5 region. However, the impacts do not follow the law of diminishing returns. Secondly, our findings reveal that an increase in unemployment of advanced educated workers can positively or negatively impact economic growth, which requires an appropriate policy to handle the negative impacts. Lastly, secondary and higher education enrollment rates can contribute to the ASEAN-5’s economic growth (both the individual and regional levels). However, the regional analysis reveals that higher education impacts become twice as strong when the enrollment rates are greater than a certain level (a kink point). Therefore, we may conclude that secondary enrollment rates positively affect economic growth; however, higher education is the key to future growth and sustainability. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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18 pages, 486 KiB

Open AccessArticle

Do Emotional Competencies Influence Students’ Entrepreneurial Intentions?

by Krystian Bigos and Adam Michalik

Sustainability 2020, 12(23), 10025; https://doi.org/10.3390/su122310025 - 1 Dec 2020

Cited by 12 | Viewed by 3439

Abstract

Entrepreneurship is one of the critical determinants of economic development. In this research area, many scientists are trying to identify the competencies that influence later decisions about starting a business—so-called entrepreneurial intentions. The subject of the research contained in this article is the relationship between emotional competencies and declared entrepreneurial intentions, which, according to the authors, constitute an added value supporting research in the field of education for entrepreneurship. The article contributes to developing behavioral theories and solves the problem of identifying essential competencies to start a business. The survey was conducted among 209 students at Cracow University of Economics. Based on a binomial logistic regression model applied in the study, a statistically significant correlation between self-awareness and self-motivation and the students’ entrepreneurial intentions was demonstrated. In contrast, the statistically significant influence of self-regulation, empathy, and social skills on the formation of these intentions was not confirmed. Therefore, to shape entrepreneurial intentions, the education process should support developing these two key factors: self-awareness and self-motivation of young people. Decision-makers should formulate the syllabuses to develop the students’ emotional competencies, which, in turn, are a source of entrepreneurial intentions. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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9 pages, 1143 KiB

Open AccessArticle

Investigating the Unintended Consequences of the High School Equalization Policy on the Housing Market

by Gyeongcheol Cho, Younyoung Choi and Ji-Hyun Kim

Sustainability 2020, 12(20), 8496; https://doi.org/10.3390/su12208496 - 15 Oct 2020

Cited by 1 | Viewed by 2482

Abstract

Owing to its potentially far-reaching impact on a large population, an educational policy may lead to unintended consequences beyond the educational area. The High School Equalization Policy (HSEP), introduced into South Korea in the mid-1970s, is representative of such a policy. HSEP prohibits high school entrance exams and randomly assigns students to a high school near their residence. Despite its aim of ensuring equal opportunities in education for all students regardless of socio-economic status, a frequent criticism was that HSEP could prompt students’ families to move to a region near traditional elite high schools, which, in turn, would widen the gap in house prices between different regions. Thus, we conducted an empirical study to examine the secondary influence of the HSEP on the housing market via a difference-in-differences (DD) analysis. We used house price data from the Gangwon province, as the partial introduction of HSEP into the province allowed for a quasi-experimental study on the effect of HSEP. The result revealed that, contrary to expectations, the HSEP in Gangwon had the opposite spillover effect of reducing the gap of the average house prices by 5%~9% across regions. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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19 pages, 1039 KiB

Open AccessArticle

The Effect of Tuition Fee Constraints on Financial Management: Evidence from Korean Private Universities

by Young-Hwan Lee, Kwon-Sik Kim and Kwang-Hoon Lee

Sustainability 2020, 12(12), 5066; https://doi.org/10.3390/su12125066 - 22 Jun 2020

Cited by 9 | Viewed by 9902

Abstract

This study examined the effect of tuition fee control policy on universities’ financial management. Using data from 93 private universities in Korea from 2006 to 2015, we investigated the effect of tuition fees and government subsidies on labor cost, operating expenses, research expenses, and so on. Based on principal and agency theory, we used the analysis of average percentage change in expenditure and panel data analysis with the help of a Least Squares Dummy Variable (LSDV) model and polynomial regression. The results show that the increase rate of tuition fees decreased after 2011, with government subsidies increasing. The LSDV analysis indicates that universities increase labor costs, operating expenses, and student support fees, while there are no differences in research expenses, laboratory fees, and expenditures from investments and other assets. Polynomial regression reveals that, based on resources, universities behave differently in their spending. With these results, this study suggests a method to lessen information asymmetry and goal conflict, such as a performance-based research system and an incentive-based budget system in universities. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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16 pages, 982 KiB

Open AccessArticle

Interpreting the Sustainable Development of Human Capital and the Sheepskin Effects in Returns to Higher Education: Empirical Evidence from Pakistan

by Zhimin Liu, Aftab Ahmed Memon, Woubshet Negussie and Haile Ketema

Sustainability 2020, 12(6), 2393; https://doi.org/10.3390/su12062393 - 19 Mar 2020

Cited by 4 | Viewed by 3307

Abstract

According to poststructuralists, workers with higher level of education and possession of potential experience are supposed to have higher wages. Yet, there are plausible questions that arise as to what levels of education or work history are needed for the enhancement of wage discrimination. Additionally, the outcomes arising from rehashing years of schooling are worth considering. We used a several methods, employing the administrative Household Integrated Economic Survey (HIES) data from Pakistan without ignoring environmental effects. Our estimated results support the conventional assumptions of linearity of log-wage. First, we found substantial returns for postgraduate diploma holders in both public and private sectors, even after controlling the individual’s heterogeneity. Second, we did notice a significant divergence in return to low-level education (LLE) and job history. Third, rehashing years of education may create suspiciousness regarding the lack of competence. Our results suggest that continuous investment in human capital toward postgraduate diploma may result in higher premiums. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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15 pages, 444 KiB

Open AccessArticle

The Trivariate Causality among Education, Health, and Economic Growth in Zimbabwe

by Michael Takudzwa Pasara, Tapiwa Kelvin Mutambirwa and Nolutho Diko

Sustainability 2020, 12(4), 1357; https://doi.org/10.3390/su12041357 - 12 Feb 2020

Cited by 9 | Viewed by 3995

Abstract

This study investigated the causality among education, health, and economic growth in Zimbabwe. Causality effects are a thinly explored area in literature, with most studies focusing on bidirectional relationships. Granger causality tests were employed in a Vector autoregressive (VAR) model. Results showed that education Granger causes health improvements, with health improvements in turn fairly associating to Granger cause economic growth in Zimbabwe. Thus, the effect of education on economic growth is not direct, but works through improved health, pointing to the conclusion that health is a transmission mechanism through which education drives economic growth. No feedback effect was established from health to education and from economic growth to education and health. Thus, results suggest the need for a holistic policy approach which integrates education and health policies in a bid to drive economic growth, since education has no effect on economic growth in its own domain, but through health. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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21 pages, 303 KiB

Open AccessArticle

Sustainable Financial Education and Consumer Life Satisfaction

by Fuzhong Chen, Jingxin Lu, Jiaying Li, Wenting Wang and Horlane Bissielou

Sustainability 2020, 12(3), 1150; https://doi.org/10.3390/su12031150 - 5 Feb 2020

Cited by 8 | Viewed by 4103

Abstract

Sustainable financial education is defined as the continuous input of money and time on financial knowledge education after formal schooling. The purpose of this paper is to examine the impact of sustainable financial education on consumer life satisfaction. Utilizing the dataset of Household Consumer Finance of Chinese Urban Residents in 2012 by the China Financial Research Center of Tsinghua University, the variable of sustainable financial education is constructed through the variables of the necessity of financial education, the money spent on financial education, and the time spent on financial education. To improve the estimation results, order probit regression is utilized. The results indicate that financial education is significantly positive to consumer life satisfaction only for a consumer with higher education. Consumers who regard financial education to be of high necessity will feel more satisfied. The results also show that consumers who spend more money and time on financial education after formal schooling will be more satisfied. Moreover, the sustainable impacts of financial education on consumer life satisfaction are verified. In addition, this study provides empirical evidence that suggests that sustainable financial education positively contributes to consumer life satisfaction. The results have implications for policymakers to take measures in enhancing sustainable financial education to improve consumer life satisfaction. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

20 pages, 494 KiB

Open AccessArticle

Applying an Evolutionary Growth Theory for Sustainable Economic Development: The Effect of International Students as Tourists

by Kemal Soyer, Hale Ozgit and Husam Rjoub

Sustainability 2020, 12(1), 418; https://doi.org/10.3390/su12010418 - 6 Jan 2020

Cited by 22 | Viewed by 6565

Abstract

In this globalized era of strict competition, all actors in countries must focus on their strengths for continuous growth, which would presumably lead to sustainable economic development. Amongst the three components of sustainable development, this paper focuses on the economic and social aspects. Many countries are becoming service-oriented for economic growth. Education is a form of human capital investment which significantly contributes to countries’ national income via students, particularly international cross-border students in higher education institutions. While endogenous growth models dismiss the importance of governments in the growth process, in this paper, the Keynesian and new growth theories are combined to form an evolutionary growth theory. This research aims to analyze the short and long-term relationships between macroeconomic variables, international students, and their impact on the gross domestic product (GDP) of a small island with the intention of policy implications for stakeholders to reach or maintain sustainable economic development. Using an evolutionary growth theory with 34 years of time-series data on quarterly base, the vector autocorrection (VAR) model helps reveal the short and long-run relationships as well as impacts on the economy for sustainable economic growth. The results confirmed a long-run relationship via cointegration. Moreover, they approved bidirectional causality between student numbers, general secondary school enrolment, and GDP. Findings suggest significant implications for all stakeholders, particularly for higher education institutions, the government, and local citizens due to the importance of micro and macro-economic variables’ effect on GDP. The results prove that educated human capital contributes to economic growth. Governments should continue their existing strategy regarding secondary school enrolment rates as it is found to be the most effective variable in the long-run. As education, knowledge, and information transfer rises, it contributes to sustainable development through promoting social stability. Limitation of the unavailability of the total yearly population, GDP was opted instead of GDP per capita. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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17 pages, 852 KiB

Open AccessArticle

The Effect of Parental Economic Expectation on Gender Disparity in Secondary Education in Ghana: A Propensity Score Matching Approach

by Prince Donkor, Ya Ding and Gideon Adu-Boateng

Sustainability 2019, 11(23), 6707; https://doi.org/10.3390/su11236707 - 27 Nov 2019

Cited by 2 | Viewed by 4053

Abstract

Ghana, like most sub-Saharan African countries, continues to face gender disparity at the higher levels of the educational hierarchy. This paper seeks to investigate whether gender disparity in senior secondary schools in Ghana is influenced by the economic expectations that parents have for their children’s education. Using data from Ghana Living Standard Survey round 6 (GLSS 6), the study employs Propensity Score Matching in its analysis. Intra-household income inequality was used as a for measure parental expectations of the economic returns of education. The results revealed that, on the average, Ghanaian parents expect their male children to reap more economic benefits from education than girls. This attitude culminates in higher investment in boys’ education to the disadvantage of their female counterparts at senior secondary schools. It is therefore recommended that appropriate policies should be implemented to ensure that the barriers that prevent women from occupying high-earning positions in the labor market are expunged. With this, parents will believe that girls can have the same economic opportunities as boys and hence will invest equal resources in children’s education irrespective of their gender. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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46 pages, 617 KiB

Open AccessArticle

Gender and Academic Rank in the UK

by Georgina Santos and Stéphanie Dang Van Phu

Sustainability 2019, 11(11), 3171; https://doi.org/10.3390/su11113171 - 5 Jun 2019

Cited by 47 | Viewed by 10741

Abstract

This paper fills in a research gap in what concerns gender and academic rank at UK universities, where women are not far from reaching the 50% share of all academic and research staff, but not even close to reaching such a share at (full) professorial level. Using an ordered logit model and the results of a survey conducted in 2013 with 2270 responses from academics from all fields of knowledge at the 24 Russell Group universities, we find three consistent results. First, being a woman has a negative and significant association with academic rank, except for the case when parenthood is timed with career considerations in mind. Second, the percentage of time spent on teaching and teaching-related activities has a negative and statistically significant association with academic rank. This association is more pronounced in the case of women, who spend a higher percentage of their working time on teaching and teaching-related activities than men, as do those in lower academic ranks. Since women tend to be in lower ranks, the percentage of time spent on teaching and teaching-related activities may be considered both a cause and a result of the gender gap. Third, we find a positive and significant association between the number of children under the age of 18 years and the academic rank of both men and women, as long as babies were timed with career considerations in mind, and a non-significant association when they were not. A possible explanation for this is unlikely to be that children have a positive impact on academic rank, but rather that they arrived after a certain rank had been secured. We conclude with some policy recommendations to help reduce the gender gap. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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14 pages, 1286 KiB

Open AccessArticle

Assessment of Sustainable Development of the Performance of Higher Education Credentials in the Transitive Labor Market

by Aftab Ahmed Memon and Zhimin Liu

Sustainability 2019, 11(9), 2628; https://doi.org/10.3390/su11092628 - 7 May 2019

Cited by 4 | Viewed by 3281

Abstract

Given the transitive challenges in the labor market, education can provide a sustainable developmental map for worldwide economic prosperity. Deep understanding of the dynamics of human capital, reflecting earnings aspirations in the labor market, indicates the need for policy makers to monitor and modify pedagogical curricula to meet the supply/demand of markets based on scientific evidence. In this study, we propose a methodology based on a household integrated economic survey (HIES) and, using different models, assess the impact of attained education and returns on the practical utility of skills within the context of a transitive labor market. We observe that effort levels are snowballing and rejection rates are declining for people with higher education (HE), whereas wage offers decline for people with low education (LE). Our results reveal significant differences in the supply/demand factors of both the public and private markets’ one-shot and continual affiliations. We conclude the impact of sheepskin effects and the implication of our findings. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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12 pages, 232 KiB

Open AccessArticle

Effects of Higher Education Levels on Total Factor Productivity Growth

by Jie Liu and Chao Bi

Sustainability 2019, 11(6), 1790; https://doi.org/10.3390/su11061790 - 25 Mar 2019

Cited by 21 | Viewed by 4254

Abstract

China is facing challenges to sustainable economic growth. Higher education of Chinese residents can affect total factor productivity (TFP) growth and hence has an influence on economic sustainability. However, currently, there is limited literature on the nexus between higher education and TFP in China. Therefore, this paper empirically analyzes the heterogeneous and spatial effect of higher education on the regional TFP growth using a dynamic spatial econometric model with provincial panel data from 2003 to 2016. The results indicate that different levels of higher education have significant effects on TFP growth and are mainly reflected in the spatial spillover effect. Bachelor and doctoral education (particularly doctoral education) demonstrated significant positive effects, whereas the technical school and master education had significant negative effects. When decomposing this effect into technical efficiency and technical progress to explore the mechanism of influences, the latter plays the major role. Therefore, the Chinese government can promote TFP growth and economic sustainability by expanding the scale of bachelor and doctoral education and improving the quality of technical and master education. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

15 pages, 2106 KiB

Open AccessArticle

Higher Education Input, Technological Innovation, and Economic Growth in China

by Guangyou Zhou and Sumei Luo

Sustainability 2018, 10(8), 2615; https://doi.org/10.3390/su10082615 - 25 Jul 2018

Cited by 56 | Viewed by 10263

Abstract

Based on the theoretical analysis of the relationship between China’s higher education input, technological innovation, and economic growth, this paper chooses the 1997–2015 sample data of China, and uses a vector auto regression (VAR) model to test the relationship between the three. The results show that educational input, technological innovation, and economic growth form an interaction mechanism featuring dynamic circulation. Higher education input and technological innovation are two important factors influencing economic growth. In the meantime, higher education input is an important source and driving force of technological innovation, and technological innovation will further promote economic growth. However, technological innovation has a delayed positive effect on economic growth, so higher education input demands a long-term view and thinking for quick success, and instant benefits should be avoided. Full article

(This article belongs to the Special Issue Economics of Education and Sustainable Development)

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