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Introduction
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concerning the way investments in education may predict QOL and ends
with concluding remarks.
Literature review
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human capital and the fact that the same level of expenditures can
produce human capital of very different qualities (Stiglitz et al., 2009, p.
253).
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Results
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2
The analysis of R and sig. values for the obtained regression models
helps to identify those indicators of investments in education that best
predict QOL, while ensuring statistically significant relationships.
Results of QOL modeling show that 52.9% up to 74.6% of the
variability in EIU-QOL index and 58% up to 72% of the variability in HDI
2005 index may be explained by annual expenditure on public and
private educational institutions per pupil/student in EUR PPS, based on
full-time equivalents. The same indicator explains between 64.8% and
89.3% of the variance in SWLS and between 50.6% and 65.6% of the
variance in HDI 2006. The proportion of explained variation in HDI
ranges between 46.7% and 64.9% in 2007 and between 31.2% and 66.7%
in 2008. In the case of annual expenditure on public and private
2
educational institutions per pupil/student the models that maximize R
values are: Cubic, Power, Logarithmic, Quadratic, S, and Inverse.
Table 1: R2 and sig. values obtained for the models built with data from
2005
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Table 2: R2 and sig. values obtained for the models built with data from
2006
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0.064 0.055
F_AID_I_II 0.060 > 0.05, except for 0.013 > 0.05,
2
Cubic (R = 0.434 and except for
2
0.089 sig. < 0.05) 0.224 Cubic (R =
0.347and sig.
< 0.05)
F_AID_III 0.010 > 0.05, except for 0.014 > 0.05,
2
Cubic (R = 0.318 and except for
0.155 sig. < 0.05) 0.086 Quadratic
2
(R = 0.254)
and Cubic
2
(R = 0.316)
with sig.
0.05
GERD 0.529 =0 0.528 =0
0.735 0.814
GERD_GDP 0.399 < 0.05 0.532 =0
0.502 0.661
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Table 3: R2 and sig. values obtained for the models built with data from
2007 and 2008
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0.627
0.626
T_PUB_EXP_all 0.050 > 0.05 0.061 > 0.05
0.090
0.067
T_PUB_EXP_I 0.052 > 0.05 0.021 > 0.05
0.104 0.54
T_PUB_EXP_II 0.026 > 0.05 0.001 > 0.05
0.179 0.138
T_PUB_EXP_III 0.250 0.05, except for 0.261 < 0.05
2
0.290 Cubic (R = 0.289
with sig. > 0.05 0.327
and < 0.1)
SUBSIDIES 0.076 > 0.05 0.068 > 0.05
0.157 0.134
F_AID_all 0.052 > 0.05 0.051 > 0.05
0.228 0.151
F_AID_I_II 0 > 0.05, except for 0.002 > 0.05, except
2
0.014 Quadratic (R = for Quadratic
2
0.310) and Cubic 0.005 (R = 0.315)
2 2
(R = 0.440) with and Cubic (R
sig. < 0.05 = 0.479) with
sig. < 0.05
F_AID_III 0.074 > 0.05 0.077 > 0.05, except
0.076 for Quadratic
2
0.163 0.05 for 0.293 (R = 0.284
0.345 Logarithmic, and sig. <
Inverse, Quadratic, 0.05)
Cubic, Power, S
GERD 0.530 =0 0.543 =0
0.805
0.822
GERD_GDP 0.529 =0 0.538 =0
0.649
0.664
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Conclusions
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References
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analysis-how-do-i-interpret-r-squared-and-assess-the-goodness-of-fit,
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