In economic growth, knowledge progress is a very important factor, so the significance of education. Education has two effects on economic growth: knowledge effect and non-knowledge effect. Knowledge effect refers to that after people receive education, they acquire knowledge, improve skills, increase adaptability to new jobs, and give play to their special talents in work. Non-knowledge effect refers to that people can change their incorrect values, improve their discipline and enhance their sense of responsibility for work after receiving education, so as to improve their work enthusiasm and be able to engage in economic and social activities and work better in accordance with the requirements of modern society.
Since the beginning of human society, education has played a very important role. Education promotes economic growth, and economic growth promotes the development of education. Education not only plays the role of disseminating knowledge, but also is one of the major sectors of knowledge production. In the era of knowledge economy, knowledge becomes the most important economic growth factor, and the role of education becomes more obvious.
Benos and Zotou (2014) investigated the literature on the impact of education on economic growth, conducted meta-regression analysis on 57 studies and estimated 989 studies, and the results showed that there was an obvious publication selection bias regarding the positive impact of education on economic growth.
Mercan and Sezer (2014) studied the relationship between education expenditure and economic growth. Through empirical analysis, the author finds that there is a positive correlation between education expenditure and economic growth in Turkey from 1970 to 2012.
Donou-Adonsou (2018) studies whether telecommunications infrastructure promotes economic growth in countries with better educational opportunities versus countries with fewer. Using data from 45 sub-saharan African countries from 1993 to 2015, the authors found that the Internet had a positive effect on economic growth in countries with better access to education.
Abdullah (2013) concluded that human capital, or education, is negatively correlated with economic growth through the analysis of Malaysian education data.
Canarella and Pollard (2011) used the data of Penn World Table 6.1 and found that in the OECD sample, the ability of the augmented Solow model to explain the transnational differences in per capita income was significantly improved.
