Mutual impact of education, human competencies and economic development: experiences from Malaysia and India

Quality of education, education levels and pattern of education programmes of a country determines the quality and types of human competencies available for economic development in that country. Quality and type of human competencies contribute to the economic development of the country concerned by accelerating the growth of industrial, agricultural, service and knowledge sectors. This paper explains the experiences and practices of three emerging Asian economies viz., Republic of Korea, Malaysia and India in this regard. This paper also deals with the issues of education and economic development in Papua New Guinea with an emphasis on gaps in education and the lessons that PNG can draw from the experiences of other countries for formulating education strategies for economic development of the country.economic development; exports; Asian economies; education volunteerism; distinctive advantages; education investment; Malaysia; India; skilled human resources; Papua New Guinea; Korea; education strategies.