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<p>Education, innovation, the labour force, and new businesses are considered the key important sectors (factors) for developed and emerging economies. The paper analyses are performed by using the Cobb Douglas production function for analysing the impact and correlation of these factors (variables) on the economic growth of Kosova during the period 2013 - 2021. The variables of public expenditures on education as a percentage of GDP and the labour force have shown a negative impact on growth and they have operated under decreasing returns to scale (based on the Cobb-Douglas function), while the variables of information, computer and telecommunication services (which refer to innovation technology) and new business creation have indicated a positive impact on growth and they have operated under increasing returns to scale (based on the Cobb-Douglas function). In addition, this paper summarized a few useful conclusions: first, public expenditure on education should provide an important contribution on growth; second, enhancing the role of education to improve and develop new knowledge for the labour force in Kosova, and at the same time, to adapt with new labour market demand; third, information, computer and telecommunication is one of the leading export sectors and this sector should provide higher potential and contributions on the economic growth of Kosova; fourth, new businesses creation should provide a significant contribution to increase economic growth. These variables in many countries have made a key value contribution to the economy by driving it toward sustainability, development, and growth.</p>
</abstract>

Education, innovation, the labour force, and new businesses are considered the key important sectors (factors) for developed and emerging economies. The paper analyses are performed by using the Cobb Douglas production function for analysing the impact and correlation of these factors (variables) on the economic growth of Kosova during the period 2013 - 2021. The variables of public expenditures on education as a percentage of GDP and the labour force have shown a negative impact on growth and they have operated under decreasing returns to scale (based on the Cobb-Douglas function), while the variables of information, computer and telecommunication services (which refer to innovation technology) and new business creation have indicated a positive impact on growth and they have operated under increasing returns to scale (based on the Cobb-Douglas function). In addition, this paper summarized a few useful conclusions: first, public expenditure on education should provide an important contribution on growth; second, enhancing the role of education to improve and develop new knowledge for the labour force in Kosova, and at the same time, to adapt with new labour market demand; third, information, computer and telecommunication is one of the leading export sectors and this sector should provide higher potential and contributions on the economic growth of Kosova; fourth, new businesses creation should provide a significant contribution to increase economic growth. These variables in many countries have made a key value contribution to the economy by driving it toward sustainability, development, and growth.

An Analysis of Important Sectors in Economic Growth. Case Study for Kosova

University of Prishtinë, Kosovë; MBA, Faculty of Business, Education and Law Staffordshire University

SEEU Review

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"An Analysis of Important Sectors in Economic Growth. Case Study for Kosova"}

Education, innovation, the labour force, and new businesses are considered the key important sectors (factors) for developed and emerging economies. The paper...

An Analysis of Important Sectors in Economic Growth. Case Study for Kosova

Pubblicato online: 28 giu 2023

Pagine: 107 - 130

DOI: https://doi.org/10.2478/seeur-2023-0013

Parole chiave
(un)employment rate, human capital, ICT services, income, labour market, logarithmic form, productivity, public expenditure on education

© 2023 Jeton Zogjani et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

An Analysis of Important Sectors in Economic Growth. Case Study for Kosova

Pubblicato online: 28 giu 2023

Pagine: 107 - 130

DOI: https://doi.org/10.2478/seeur-2023-0013

Parole chiave(un)employment rate, human capital, ICT services, income, labour market, logarithmic form, productivity, public expenditure on education

© 2023 Jeton Zogjani et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Parole chiave
(un)employment rate, human capital, ICT services, income, labour market, logarithmic form, productivity, public expenditure on education