Education and Economic Development in South Asia

Abstract

This paper provides a snapshot of educational and economic trends across South Asia with an exploratory and comparative approach. Before COVID-19, South Asia was the world’s fastest-growing regional economy, concurrently achieving major strides in poverty reduction and access to education. Despite the region’s economic and educational accomplishments, the countries of South Asia fall short of international benchmarks in public education expenditure, resulting in a persistent lag in educational quality that hampers individuals, the workforce, and overall economic productivity. The paper highlights themes in the literature, including context-specific evidence for the various theories of economic growth, the returns to education, and educational inputs (e.g., teachers and private schools) that highlight how spending can be leveraged to increase educational outcomes. In addition, it examines the relationship between education, poverty, and marginalization factors that explain why some populations are deprived of education and its benefits. We provide a broad perspective of the dynamics of the economics of education and the related challenges in this region. This discussion aims to enhance the understanding of the inefficiencies in South Asia’s educational systems and, ultimately, in the development of the region’s human capacities.

Citation

Thapa, A., Khan, M., Zemp, W.L.H. and Gazawie, J. (2024), "Education and Economic Development in South Asia", Wiseman, A.W. (Ed.) Annual Review of Comparative and International Education 2023 (International Perspectives on Education and Society, Vol. 48), Emerald Publishing Limited, Leeds, pp. 199-217. https://doi.org/10.1108/S1479-367920240000048011