Date of Publication :19th August 2016
Abstract: Education is one of the main keys to economic development and improvements in human welfare. As global economic competition grows sharper, education becomes an important source of competitive advantage, closely linked to economic growth, and a way for countries to attract jobs and investment. In addition, education appears to be one of the key determinants of lifetime earnings. Countries therefore frequently see raising educational attainment as a way of tackling poverty and deprivation. In developing countries, education is also linked to a whole batch of indicators of human development. Education of women influences the health of children and family size. The experience of Asian economies in particular in the past two decades has demonstrated the benefits that public investment in education can bring. In richer countries, education is seen as important not just in the early years, but also in later life. As the pace of technological change quickens and as the workforce in many rich countries grows older, education offers a way to improve and update the skills and capabilities of the workforce
Reference :