QUALITY EDUCATION, INITIATIVE AND ENTREPRENEURIAL EMPOWERMENT FOR SUSTAINABLE ECONOMIC DEVELOPMENT

Abstract

This paper aims to highlight the role of quality of education through the one of the system outcomes, skilled and autonomous individuals capable to reveal and fulfil their potential and equipped with one of key competency for long life learning - entrepreneurship (according with European Commission recommendation, 2018). Hence the assessment of Romanian educational system it was considered based on public spending on education, percent on GDP as an input indicator and youth literacy rate, ages 15 – 24 and tertiary school enrolment, percent of all eligible children as output indicator. The entrepreneurial initiative was assessed by considering the total number of enterprises active in the economy, respective the rate of creation for new enterprises. We will realize a multiple econometric model between public spending on education, percent on GDP as an input indicator and youth literacy rate, ages between 15 – 24 and tertiary school enrolment, percent of all eligible children.