The effects of the quality of tertiary education on economic growth have been examined across countries. Professors’ research publication is used as a proxy for the quality of education at the university level. Research outputs in basic science and engineering are found to have a positive and significant effect on economic growth. Economics and business research also have immediate growth effects although the effects are a bit smaller. The results are, in general, consistent with the findings in the growth literature. The convergence hypothesis is also supported by the data.
From an abstract of a paper by Jin and Jin (Applied Economics, 2013). The title is "Research publications and economic growth: evidence from cross-country regressions." Alas I did not find it online.
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