Higher education: growth and development. Quality, efficiency and financing in Colombia
Germán Darío Valencia
Juan Carlos Arango
Nowadays all countries acknowledge that human capital contributes to economic development as much as physical capital does. Education is taken as an important tool for economic and social development. Investing in education leads to human capital accumulation which constitutes a key factor for a sustained economic growth as well as for an increase in private and social income. This article presents two topics closely linked with human capital formation and particular with higher education: economic growth and, in the Colombia case, everything concerning quality, financing and efficiency.
Higher education, human capital, externalities, quality, efficiency, financing
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