Education as a crucial factor of economic growth in the process of globalization 1

Abstract

Authors focus on the role of tertiary education in the globalized world economy, especially in the process of economic growth and development. The OECD countries are used as a statistical sample and basic cross-country analysis has been carried out. Consequently, the Czech Republic, Germany, Japan, and the United States have been chosen for a deeper regression analysis of relationship between economic growth and tertiary education.