Publisher's Synopsis
⦁How outsourcing education strategy influenceseconomy development to Asia countriesAny countries have two different channels through which human capital can affect long run economic growth by education provision. The first channel is when human capital is a direct input in the production function and the second channel is when the human capital affects the technology parameter. The result establishes a long run relationship between education and economic growth. A well educated labour force appears to significantly influence economic growth both as a factor in the production function and through total factor productivity. With its large resources of human and natural resources, the potential to build a prosperous economy to reduce poverty significantly and to provide the health, education services that its population needs. As the Asia developing countries, e.g. China or Korea, which are poor countries past years, which need foreign investors' different businesses development in their countries. So, themselves education is commonly regarded as the most direct avenue to rescue a substantial number of people out of poverty since there is likely to be more employment opportunities and higher wages for skilled workers. Furthermore, education can enable children's attitudes and assists them to grow up with social values that are more benefitical to their nations and themselves.The theoretical basis of education on economic growth is rooted in the endogenous growth theory. Endogenous growth economists believe that improvements in productivity can be linked to a faster pace of innovation and extra investment in human capital. Engogenous growth theorists argue the need for government and private sector institutions and markets which need to innovate and provide incentives for individuals to be inventive. There is also a central role for knowledge as a determinant of economic growth theory can predict positive externalities and spill over effects from development of a high valued-added knowledge economy which is able to develop and maintain a competitive advantage in growth industries in the global economy.