“…The endogenous growth models have included education by showing its role in increasing the innovative capacity of the economy through developing new ideas and technologies (Holland et al, 2013). In the recent studies, many scientists (Cohen & Soto, 2007;Dananica & Belasku, 2008;Huang et al, 2009;Lee, 2010;Tsai et al, 2010;Dauda, 2010;Suri et al, 2011;Lawal & Iyiola, 2011;Tsamadias & Prontzas, 2012;Zivengwa, 2012;Awel, 2013;Abdullah, 2013;Barro, 2013;Holland et al, 2013;Mehrara & Musai, 2013;Zivengwa et al, 2013;Pegkas, 2014;Adekola, 2014;Arif et al, 2015;Hassan & Cooray, 2015;Khan et al, 2015;Mariana, 2015;Hanushek, 2016;Lu, 2018) have explored the relationships between education and economic development. The growth effect of education varies according to several factors, such as differences in education measurement and study characteristics, model specification as well as type of data used, and the quality of research outlets where studies are published (Benos & Zotou, 2014).…”