The role of higher education in economic development: an empirical study of Taiwan case

The present study is designed to investigate short-run and long-run linkage between school education and economic growth in Pakistan using annual time series data on real GDP, real physical capital, inflation and general school enrollment for the period 1970-71 to 2008-09. Cointegration between school education and economic growth is found in the present study. The results of this study also confirm the existence of two way direct long-run relationship between school education and economic growth in Pakistan. A two way inverse relationship between school education and economic growth is found in short run. Macroeconomic instability due to inflation retards economic growth and school education only in the long-run. A statistical significant and inverse relationship between school education and poverty is observed only in the short-run. On the basis of the findings, this study recommends reduction in macroeconomic instability and poverty. Policy action aiming at increasing school education and accelerating economic growth is desirable.

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RELATIONSHIP BETWEEN SCHOOL EDUCATION AND ECONOMIC GROWTH IN PAKISTAN ARDL Bounds Testing Approach to Cointegration

The aim of this paper is to examine the empirical relationship between the knowledge-based economy and economic growth in MENA countries. We are interested in identifying pillars linked with the transition to a knowledge-based economy that is related to growth performance. We used a growth model in Barro and Sala-i-Martin framework (1995) for the period of 2010–2015. It includes a panel data set that consisted the annual economic growth rate for selected MENA countries and, within the theoretical and empirical framework, applied the four indicators used for identifying the situation of the knowledge-based economy. The empirical results obtained using the generalized method of moments dynamic panel indicates institutions, human capital and research, infrastructure, and business sophistication to be the pillars of knowledge-based economy that influence a significant and positive economic growth in MENA countries. We suggest that governments in this region should consider the knowledge-related policies for accelerating transiting to the knowledge-based economy and improving economic performance.

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The Impact of Knowledge-Based Economy on Growth Performance: Evidence from MENA Countries

Higher education, especially that leading to a degree from a high-prestige university, is strongly related to social status and employment opportunities in East Asian countries. This is a consequence of both traditional Confucian attitudes to education and the social and economic changes accompanying industrialisation. Since the number of places available at high-prestige universities is limited, competition is intense. Successful entry to such a university is not only an important achievement for the future career of the student, but also a victory for the family. In contrast, failure to do so is often seen as shameful for the family, sometimes resulting in psychological problems or suicide. This background affects the international education of East Asian students, who often have a high level of family support, with correspondingly high expectations of their success. Motives for international study vary, from avoidance of the hyper-competitive domestic system, pursuit of an overseas degree as an ‘easy option’ of moderate prestige, to an expectation of more up-to-date teaching and content. Understanding this background can be a first step for Australian or other Western educators to better meet the needs of East Asian international students and to attract students from East Asia in the long term.

Factors influencing the higher education of international students from Confucian East Asia

In this paper, we study human capital effects on economic growth of Portugal from 1960 to 2001 By using VAR and cointegration analyses, we obtain 042 long-run estimate for human capital elasticity, 030 long-run estimate for internal knowledge elasticity, and 040 long-run estimate for the elasticity related with the composite variable that measures the interaction between human capital and innovation capability These estimates seem to confirm that human capital and indigenous innovation efforts are enormously important to the process of Portuguese economic growth during the period 1960-2001, though the relevance of the former overpasses that involving the creation of an internal basis of R&D In addition, the indirect effect of human capital, through innovation, emerges here as critical, showing that a reasonably higher stock of human capital is important to enable a country to reap the benefits of its innovation indigenous efforts

Ping Wang

Papers

Education, human capital enhancement and economic development: Comparison between Korea and Taiwan