Development Impacts of Globalization and Education: Evidence from the Asia-Pacific Countries
Crossing the Border: International Journal of Interdisciplinary Studies, Volume 3; Number 1; January 2015
20 Pages Posted: 14 Mar 2015
Date Written: March 10, 2015
This article compares globalization, education and development indicators of high-growth and low-growth countries in terms of their GDP per capita in the Asia-Paciﬁc region from 1970 to 2010. Although development is multifaceted, this study mostly considers growth alone as the measure of development. It ﬁnds that countries with high level of education at 1970 have achieved high-growth along with rapid globalization over time, and vice versa. Similarly, panel data analysis of selected countries shows that globalization and education signiﬁcantly enhance the growth. However, despite high level of education and globalization, the Philippines has surprisingly low-growth, high poverty and inequality, which indicates that good policies and institutions should complement globalization and educational base for rapid development.
Globalization is accelerated in recent decades affecting many aspects of development (while) bringing opportunities and threats to all nations. In this process, education can play a crucial role in optimizing the gains from globalization and ultimately achieving development goals, particularly in less developed countries. As the latest champions of globalization for their national development mainly come from the Asia-Paciﬁc region, it is worthwhile to examine the impacts of globalization and education on development in the region. It is also relevant because of the fact that Asia-Paciﬁc region also has a number of countries that are lagging behind in tap-ping globalization for national development. Thus, this study addresses the question that did the high economic growth of some countries in the Asia-Paciﬁc region stem from their early expansion of school systems, and the rapid trend of globalization? It also explores how strong educational base is instrumental to withstand the increased competition and capitalize the opportunities offered by globalization for economic growth.
Keywords: Globalization, education, development, GDP per capita growth, Asia-Paciﬁc region
JEL Classification: F63, O10
Suggested Citation: Suggested Citation