Growth and educational levels: a comparative analysis

Abstract

This article investigates the effect of human capital on growth in three groups of countries that exhibit significantly different levels of development. The empirical work attempts to uncover differences between OECD developed market economies and less developed countries to show that each educational level contributes to growth among countries of different development levels. The empirical findings of the cross-country data sets suggest that the link between growth and education varies as a result of different levels of economic development. They also suggest that the role of primary and secondary education seems to be more important in LDC nations, while growth in OECD economies depends mainly on higher education.