Tertiary education and economic growth

The paper investigates the potential importance of tertiary education in the growth process using the standard data in the field. Previous studies have focused largely on primary and secondary education and have calculated growth races using only two data points. In this paper these potential anomalies are addressed. All available data are used in calculating growth rates and the scope of the education process is widened to include tertiary education. The results suggest that tertiary education may well have an important role to play in the growth process.