Impact of Higher Education on Economic Growth: Evidence from Asian Developing Economies
The purpose of this study is to empirically explore the nonlinear relationship between Higher Education (hereafter Human Capital) and economic growth in a panel data set of 7 developing countries in South and East Asia over the period 1975 to 2013. The study utilizes average years of schooling as a measure of Human capital frequently employed in literatures. The findings of the study determine that the relationship between average years of schooling and income growth is positive and yields a nonlinear effect in the selected regions, however the results are more significant in case of China. The results are consistent with the plenty of existing literatures.
Keywords - Higher Education, Economic growth, Nonlinearity, developing economies.