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Investment In Higher Education And Economic Development In East Asia

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  • Thi Hoai Trinh NGUYEN
  • Claudiu CICEA

Abstract

Purpose: This article focuses on summarizing research on the relationship between investment in higher education and economic development in several East Asian countries, namely China and South Korea, whose characteristics and conditions are similar to Vietnam. The studies show that higher education plays an essential role in a country's economic development. For Vietnam, the studies also show that higher education is the driving force for economic growth; higher education contributes to income growth; higher education is a development factor. Therefore, this paper concludes: investment in higher education is an investment for economic development. At the same time, the article draws lessons learned from East Asian countries, which can be applied to Vietnam to increase the efficiency of higher education investment and promote economic development. Design/ methodology/approach: literature review

Suggested Citation

  • Thi Hoai Trinh NGUYEN & Claudiu CICEA, 2020. "Investment In Higher Education And Economic Development In East Asia," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 14(1), pages 421-435, November.
    • Handle: RePEc:rom:mancon:v:14:y:2020:i:1:p:421-435
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    References listed on IDEAS

    as
    1. Risti Permani, 2009. "The Role of Education in Economic Growth in East Asia: a survey," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 23(1), pages 1-20, May.
    2. Kwack, Sung Yeung & Lee, Young Sun, 2006. "Analyzing the Korea's growth experience: The application of R&D and human capital based growth models with demography," Journal of Asian Economics, Elsevier, vol. 17(5), pages 818-831, November.
    3. Thi Hoai Trinh NGUYEN & Claudiu CICEA, 2019. "Budget Allocation Policy For Public Higher Education In Vietnam: A Short Radiography And Future Trends," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(1), pages 448-456, November.
    4. Maria-Simona NARO? & Mihaela SIMIONESCU, 2019. "The Role Of Education In Ensuring Skilled Human Capital For Companies," Theoretical and Empirical Researches in Urban Management, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 14(1), pages 75-84, February.
    5. Zhang, Chuanguo & Zhuang, Lihuan, 2011. "The composition of human capital and economic growth: Evidence from China using dynamic panel data analysis," China Economic Review, Elsevier, vol. 22(1), pages 165-171, March.
    6. Kang, Jung Mo, 2006. "An estimation of growth model for South Korea using human capital," Journal of Asian Economics, Elsevier, vol. 17(5), pages 852-866, November.
    7. World Bank, 2020. "Innovation in Education," World Bank Publications - Reports 34034, The World Bank Group.
    8. Kikuchi, Tadashi, 2007. "An analysis of the impacts of development on Gini inequality using grouped and individual observations: Examples from the 1998 Vietnamese Household Expenditure Data," Journal of Asian Economics, Elsevier, vol. 18(3), pages 537-552, June.
    9. repec:bla:apacel:v:19:y:2005:i::p:36-54 is not listed on IDEAS
    10. Su, Yaqin & Liu, Zhiqiang, 2016. "The impact of foreign direct investment and human capital on economic growth: Evidence from Chinese cities," China Economic Review, Elsevier, vol. 37(C), pages 97-109.
    11. Hak K. Pyo, 1995. "A Time-Series Test of the Endogenous Growth Model with Human Capital," NBER Chapters, in: Growth Theories in Light of the East Asian Experience, pages 229-245, National Bureau of Economic Research, Inc.
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