CATCH ME IF YOU LEARN: DEVELOPMENT-SPECIFIC EDUCATION AND ECONOMIC GROWTH

What is it about?

According to the existing literature, rich countries should invest in high-skilled human capital and advanced education, while poor countries should invest in low-skilled human capital. In this paper, we propose some theoretical and empirical arguments which point in the opposite direction.

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Why is it important?

All in all, our results point to the importance of tertiary education in the explanation of growth while, at the same time, showing that its effect on growth is heterogeneous across countries found at different stages of development. Our results suggest the relatively more important role of tertiary education for the growth of countries for which, instead, the primacy of lower educational levels has been usually advocated as main engine of growth and development.