Which Types of Education are Important for Economic Growth?

Abstract

The relationship between education and economic growth has been discussed on numerous occasions, and there is a consensus that education plays an important role toward economic growth. This paper empirically examines 55 countries’ panel data to determine which types of education are playing important roles for achieving economic growth. The results showed that the improvement of educational systems, finance skill, Internet usage, and English proficiency has a positive impact on economic growth. On the other hand, educational systems and Internet usage also shrink inequality in the economy. High quality education for students is important for attaining economic growth, and it would confer student’s chances and opportunities and promote sound economic growth.