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The role of education in economic development: a theoretical perspective


  • Ozturk, Ilhan


Education in every sense is one of the fundamental factors of development. No country can achieve sustainable economic development without substantial investment in human capital. Education enriches people’s understanding of themselves and world. It improves the quality of their lives and leads to broad social benefits to individuals and society. Education raises people’s productivity and creativity and promotes entrepreneurship and technological advances. In addition it plays a very crucial role in securing economic and social progress and improving income distribution.

Suggested Citation

  • Ozturk, Ilhan, 2001. "The role of education in economic development: a theoretical perspective," MPRA Paper 9023, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:9023

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    References listed on IDEAS

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    1. Catalin Chiriac, 2010. "Human Capital And Education For Sustainable Development In A Global World," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 2(4), pages 11-19, December.
    2. Ozturk, Ilhan, 2002. "Economic and social issues of east and southeast turkey: policy implications," MPRA Paper 1582, University Library of Munich, Germany.
    3. Elizabeth N. Appiah, 2017. "The Effect of Education Expenditure on Per Capita GDP in Developing Countries," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(10), pages 136-144, October.
    4. Ruba Abdullah Aljarallah, 2020. "The Economic Impacts of Natural Resource Dependency in Gulf Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 10(6), pages 36-52.
    5. Nurlan Kurmanov & Amangeldy Dogalov & Sungat Toktasynov & Assem Baktymbet & Saule Baktymbet & Assel Rakhimbekova & Aizhan Satbayeva, 2017. "Innovation Process Management as the Basis of Enterprise Development," International Review of Management and Marketing, Econjournals, vol. 7(1), pages 458-464.
    6. Milawati Milawati & Abdul Rozak Fahrudin, 2021. "How is the Performance of Education in Indonesia?," International Review of Management and Marketing, Econjournals, vol. 11(1), pages 29-35.
    7. Widarti Widarti & Desfitrina Desfitrina & Zulfadhli Zulfadhli, 2020. "Business Process Life Cycle Affects Company Financial Performance: Micro, Small, and Medium Business Enterprises During The Covid-19 Period," International Journal of Economics and Financial Issues, Econjournals, vol. 10(5), pages 211-219.
    8. Das, Sanchita Basu & Narayanan, Badri, 2022. "ASEAN Education Cooperation: An Assessment of the Education Divide and Measuring the Potential Impact of Its Elimination," ADBI Working Papers 1300, Asian Development Bank Institute.
    9. Harman Preet Singh & Ajay Singh & Fakhre Alam & Vikas Agrawal, 2022. "Impact of Sustainable Development Goals on Economic Growth in Saudi Arabia: Role of Education and Training," Sustainability, MDPI, vol. 14(21), pages 1-25, October.
    10. Jesica de Armas & Helena Ramalhinho & Marta Reynal-Querol, 2022. "Improving the accessibility to public schools in urban areas of developing countries through a location model and an analytical framework," PLOS ONE, Public Library of Science, vol. 17(1), pages 1-27, January.
    11. Vatroslav Zovko, 2014. "Long Range Prospects of Education - from Now until Singularity," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage:, vol. 12(2), pages 161-175.
    12. Yumurtaci Aynur & Bagis Bilal, 2020. "University Students’ Preferences about Savings and Investments at Individual and National level in the 21st Century: The Case of Turkey," Review of Economic Perspectives, Sciendo, vol. 20(4), pages 485-502, December.
    13. Irina-Elena Petrescu & Mariarosaria Lombardi & Georgiana-Raluca Lădaru & Răzvan Aurelian Munteanu & Mihai Istudor & Georgiana Adriana Tărășilă, 2022. "Influence of the Total Consumption of Households on Municipal Waste Quantity in Romania," Sustainability, MDPI, vol. 14(14), pages 1-16, July.
    14. Lidija Madzar, 2022. "Macroeconomic Analysis Of The Financing Of Education System In The Republic Of Serbia," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 7(1), pages 8-18, March.
    15. Karagiannis, Dimitris & Metaxas, Theodore, 2017. "Local Authorities’ contribution on Gastronomy Tourism Development: the case of Ontario, Canada," MPRA Paper 79325, University Library of Munich, Germany.
    16. Ashok Babubudjnauth & Boopen Seetanah, 2021. "An empirical analysis of the impacts of real exchange rate on GDP, manufacturing output and services sector in Mauritius," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(2), pages 1657-1669, April.
    17. Moritz Jellenz & Vito Bobek & Tatjana Horvat, 2020. "Impact of Education on Sustainable Economic Development in Emerging Markets—The Case of Namibia’s Tertiary Education System and its Economy," Sustainability, MDPI, vol. 12(21), pages 1-26, October.
    18. Alexander Cotte Poveda, 2013. "The relationship between development, investments, insecurity and social conditions in Colombia: a dynamic approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 47(5), pages 2769-2783, August.
    19. M Jagadeesha & P Venkata Durga Rao & Aruna Polisetty, 2020. "Challenges for Expatriate Faculties to Teach International Business course in Ethiopian Universities (Case of Dilla University)," International Journal of Higher Education, Sciedu Press, vol. 9(6), pages 151-151, December.
    20. Tudose Mihaela Brindusa & Cadiş Mihaela Narciza, 2013. "The Role Of Education In The Economic Development," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 85-92, August.
    21. Ruba A. Aljarallah & Andrew Angus, 2020. "Dilemma of Natural Resource Abundance: A Case Study of Kuwait," SAGE Open, , vol. 10(1), pages 21582440198, January.
    22. Claudiu-Ionuţ Popîrlan & Irina-Valentina Tudor & Constantin-Cristian Dinu & Gabriel Stoian & Cristina Popîrlan & Daniela Dănciulescu, 2022. "Influence of Certain Social Aspects on Most Likely Internet Usage Scenarios," Sustainability, MDPI, vol. 14(12), pages 1-20, June.

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    More about this item


    Human Development; Economic Growth; Poverty; Labour Productivity; Education; Technology; Trade; Health;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • I2 - Health, Education, and Welfare - - Education
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists


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