Does education matter for growth? Whichtype of education investment (primary, secondary, ortertiary) matters most? Is there a relationship betweengrowth or innovation and the governance of higher education?This paper surveys recent attempts at answering thesequestions. It first contrasts the 'Lucasapproach,' whereby growth is affected by theaccumulation of human capital, with the 'Nelson?Phelpsapproach,' whereby growth is affected by the stock ofhuman capital and by its interaction with the underlyingprocess of technological innovation. Then the paper arguesthat growth in countries that are close to the worldtechnological frontier benefit more from tertiary education,whereas countries that lie below the frontier benefit morefrom primary and secondary education. Finally, the paperdiscusses the relationship between innovation and thegovernance of universities.
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