Investment in Education and Its EFFECT on Economic Growth Selected Developing

Investment in education is a key factor in the economic development process.. Human capital is required to be provided with educational activities. On the one hand, educational investment enhances human capabilities, and on the other hand, the labor force is enabled to use the new technology for production and thus the way is paved for the country's economic growth and development.In this study, we surveyed the effect of investment in education on economic growth in developing countries (Iran, Bulgaria, Peru, Romania, Thailand, turkey, Tunisia, Malaysia, Argentina, Brazil, Chile, Mexico) with using panel data selection during the period1998-2010.The results indicate that the effect of investment on economic growth is positive and significant in selected developing countries. Also, low training costs and thus ignoring the impact of education and training of skilled manpower are the most important factors of low levels of economic growth in developing countries. Meanwhile, it is worth considering that the growing population of young people in developing countries plus the need for these countries to generate growth and increase production requires a great attention to the level and quality of education which can be enhanced through increased training costs.