The purpose of the present paper is to investigate the role of educated employment contribution
in economic development of countries around the world. We have used the highly
educated employment as an independent variable and macroeconomic variables such as real
economic growth, exports revenue, inflation, corruption, life expectancy, tourism revenues, and
access to internet as dependent variables in a regression model analyzing the data for 70
countries for the early years of the new millennium.
Our empirical results support the positive impact of educated employment contribution on
macroeconomic development indexes. Therefore the more and efficient contribution of educated
employment and consequently development of the so-called knowledge-based economy in
countries around the world with an emphasis on developing countries is suggested.