Background: Several studies have focused on the role of higher education on economic
growth of developing countries whilst some have sought to establish the role of education
in its entirety on economic growth. Economic development achievement and the reduction
of the gap between developed and developing or emerging countries, has an effect on
the catch-up effect of developing or emerging countries. The result of catch-up effect
is economic convergence.
Objectives: To investigate if there is evidence education playing a role in economic
development achievement; whether there is a catch-up effect of developing and emerging
countries and whether there is economic convergence.
Methodology: The paper is a critical literature review. Studies that emphasized the
relation between the broad education role on economic growth and development were
the interest of this paper.
Findings: Developing countries that invest in education of their citizenry, are doing
better in terms of economic growth and economic development; education is catching
up despite some observers believing that the education quality gap may be larger than
ever. There is skepticism as to whether there will ever be total convergence in the
development gap between the developing and emerging countries, and the developed countries.
Whether developed countries are willing to share the developed status with developing
and emerging countries through sharing of technological advancements, is perhaps a
phenomenon worth delving into if total convergence of the development gap is to be
realized. Furthermore, high illiteracy levels mean that the capability of the majority
of the developing and emerging nations’ citizenry to comprehend the intricacies of
technology for productivity and economic advancement are below par to cause any convergence
in the development gap.
