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The role of education in economic development: a theoretical perspective

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  • Ozturk, Ilhan

Abstract

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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    File URL: https://mpra.ub.uni-muenchen.de/9023/1/MPRA_paper_9023.pdf
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    References listed on IDEAS

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    3. Behrman, Jere R. & Wolfe, Barbara L., 1987. "How does mother's schooling affect family health, nutrition, medical care usage, and household sanitation?," Journal of Econometrics, Elsevier, vol. 36(1-2), pages 185-204.
    4. Psacharopoulos, George, 1994. "Returns to investment in education: A global update," World Development, Elsevier, vol. 22(9), pages 1325-1343, September.
    5. Wood, Adrian, 1995. "North-South Trade, Employment and Inequality: Changing Fortunes in a Skill-Driven World," OUP Catalogue, Oxford University Press, number 9780198290155.
    6. Birdsall, Nancy, 1993. "Social development is economic development," Policy Research Working Paper Series 1123, The World Bank.
    7. Behrman, Jere R. & Deolalikar, Anil B., 1988. "Health and nutrition," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.),Handbook of Development Economics, edition 1, volume 1, chapter 14, pages 631-711, Elsevier.
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    Citations

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    Cited by:

    1. 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.
    2. 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.
    3. 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.
    4. 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, Open Access Journal, vol. 12(21), pages 1-1, October.
    5. 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.
    6. 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.
    7. Ozturk, Ilhan, 2002. "Economic and social issues of east and southeast turkey: policy implications," MPRA Paper 1582, University Library of Munich, Germany.
    8. 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.
    9. 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.
    10. Vatroslav Zovko, 2014. "Long Range Prospects of Education - from Now until Singularity," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 12(2), pages 161-175.
    11. 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.
    12. Ruba A. Aljarallah & Andrew Angus, 2020. "Dilemma of Natural Resource Abundance: A Case Study of Kuwait," SAGE Open, , vol. 10(1), pages 21582440198, January.

    More about this item

    Keywords

    Human Development; Economic Growth; Poverty; Labour Productivity; Education; Technology; Trade; Health;

    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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