Comparative study of higher education influence on economic growth of G8 and OPEC countries

In this study, based on developed neoclassic growth model, a comparative study about higher education effect on economic growth of two different groups of countries; G8 (first eight developed or industrialized countries) and OPEC (petroleum export countries) has been conducted by econometric and panel data methods. In addition, regression model’s coefficients of 14 countries have been calculated by EViews software during 1990 – 2010. Finally, obtained results of these two groups were compared with each other. Obtained results showed that in OPEC countries, higher education has not a meaningful effect on economic growth, and contrary, in G8 countries higher education have meaningful effect on economic growth