Differentiated Impact of Higher Education by Gender, Age, and Income Level on Economic Growth: Evidence for OECD Countries

This research analyzes the differentiated impact of tertiary education by gender, age (youth or adult), and per capita income level through sixteen regression models with balanced panel data. Among the main results, women impact Gross Domestic Product per Capita (GDPpC) more than men; the results also differ according to income level. Young people contribute the most significant economic benefits, while in low-income countries, adults negatively impact the economy (the percentage is insignificant compared to present economic externalities). On the contrary, adults in high-income countries contribute a little to the economy (the initial investment of human capital depreciates with age). It is challenging to generalize the impact of tertiary education in all countries because it depends on differences by gender, age, and per capita income level. It is necessary to establish public policies reinforcing and strengthening higher education to achieve economic growth. Public policies must strive to reduce inequality in higher education and economic inequality among the members of the Organization for Economic Cooperation and Development (OECD).