Education, Technical Change and Economic Growth: An Analysis of a Sample of Developing Countries

This research aims to study the relationship between education and technical change and their effects on economic growth in a disparate sample of developing countries. The problem of spending on education is that it is constrained by determinants such as population growth and global technological development, therefore, the importance of the subject lies in the difficulties of sustainable economic growth. The research assumes that "educational spending and the spread of technical imports are two substantial sources of economic growth." The relationships were estimated for a sample of twenty developing economies and obtained several conclusions, most notably: that education always has significant effects on performance as measured by gross domestic product and economic growth; It has a two-year delay in the emergence of its effects and the association of technical changes with paramount positive relationships with the output directly; and with economic growth, but coupled with the growth of spending on education.