Non-Linear Effect of Quality of Education on Social Development

Abstract

1. Objective: This study aims to test the role of the quality of education in improving the social development of HDR-listed countries. Moreover, the role of labor and capital is also included as controlling factors of the described model.

   Research Gap: This study is instrumental in exploring the role of quality of education globally. Further, this study tests the determining as well as the moderating role of institutions in improving social development

   Design/Methodology/Approach: For the analysis, secondary data is collected from the period 2008 to 2018, and the results are estimated using panel quantile regression. The study sample is classified as country groups based on human development.

   The Main Findings: The estimated results indicate that the quality of education and social development have a U-shaped relationship. While capital and institutions are increasing but labor force is decreasing social development. The cross-product of the quality of education institutions is reducing social development.

   Theoretical / Practical Implications of the Findings: These results have confirmed the implementation of targeted education reforms to enhance access and quality, cater to diverse learner needs, maximize education's positive impact on social progress, and ensure sustainability.

   Originality/Value: The nonlinear role of education quality is assessed with the moderating role of institutions.