Abstract
Abstract The study aimed to examine whether education expenditures, basic education expenditures, secondary education expenditures and advanced education expenditures affect economic growth. In the study covering the duration 1990-2023, 6 major economies with complete data were considered. The econometric analysis first started with the correlation test of the series, and in the presence of correlation, the second-generation unit root test was applied, and in the absence of correlation, the first generation unit root test was applied. The presence of a cointegrated relationship in our research model allowed us to make long-term coefficient estimation. According to long-term coefficients, education expenditures, advanced and secondary education expenditures negatively affect economic growth; basic education expenditures have a positive impact. According to Dumitrescu and Hurlin Panel causality test; While a one-way causality relationship was detected between education expenditures, basic education expenditures, secondary education expenditures and economic growth; A bidirectional causality relationship was found between further education expenditures and economic growth.
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