Education and Economic Growth: A Comparative Study in the Asia-Pacific

Abstract

This study investigates the impact of education levels on economic growth across developed, emerging, and developing economies in the Asia-Pacific region from 2014 to 2023. Drawing on data from the World Development Indicators (WDI), it examines three key dimensions of education: attainment (proxied by primary completion rates), quality (measured by pupil-teacher ratios), and human capital development (captured by tertiary gross enrollment ratios). The analysis also includes control variables such as investment (gross capital formation) and trade openness (trade as a percentage of GDP). Using panel regression techniques, the findings indicate that higher primary completion and tertiary enrollment significantly enhance GDP growth, while larger pupil-teacher ratios negatively affect it. Investment and trade openness strengthen these relationships, though their effects differ across economic classifications. Robustness checks, including fixed-effects models and sensitivity tests, support the reliability of the results. The study concludes by recommending improved access to quality education, reduced classroom overcrowding, and strengthened tertiary education particularly in emerging and developing economies