Abstract

Human capital accumulation affects economic growth and education is one of the main elements of human capital. Different levels of formal education can leave different effects on economic growth. I used data from the time period of 1981-2013 and vector auto regression method to study the effects of different levels of formal education on Iran’s economic growth. The results showed that increasing schooling at elementary, secondary and higher education levels have a significant effect on growth and in the long run, employees with university degrees, those with secondary and primary school qualifications had the greatest impact on GDP growth, respectively.

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