Cambodia Development Institute

Education is Crucial Catalyst in Promoting Economic Growth
Chhom Seryrath, Heng Leangkhim, Keo Muyleng
February 13, 2013


Abstract

Although Japan, Singapore and South Korea have been suffered from the devastation of war and conflict, these three countries have enjoyed the prosperity of economic development since 20th century, and these countries have named as the “three Tigers” in Asia due to their rapid economic growth. The economy of each country cannot be prosperous and developed sustainably without the contribution of human capital. Hence, this paper focuses on the importance of education in fostering economic growth. Japan, Singapore and South Korea have been raised as the illustrations of how the role of education plays in the development process of these countries. Plus, we will find out the education reform and the fruitfulness of education on economic development of each country. This paper aims at proving that education is the significant catalyst in promoting economic growth and education can transform developing country to developed country in the short period.