Year of Graduation
Influence of Education on Economic Growth of Russia
The purpose of the work is to study the effect of education on economic growth of Russia. To analyze the influence there were used data from 76 subjects of the Russian Federation for the period from 1995 to 2012. Variable for education was taken as the ratio of the number of university students to economically employed part of population. To run the regressions there were used methods: OLS, Random effect model and Fixed effect model. There were also considered two dummy variables: one denoting year 1998 and the second - year 2009. The result showed a positive effect of education on economic growth of Russia.