Does Education Matter for Economic Growth?
type="main" xml:id="obes12025-abs-0001"> <title type="main">Abstract</title> <p>Empirical growth regressions typically include mean years of schooling as a proxy for human capital. However, empirical research often finds that the sign and significance of schooling depends on the sample of observations or the specification of the model. We use a non-parametric local-linear regression estimator and a non-parametric variable relevance test to conduct a rigorous and systematic search for significance of mean years of schooling by examining five of the most comprehensive schooling databases. Contrary to a few recent articles that have identified significant nonlinearities between education and growth, our results suggest that mean years of schooling is not a statistically relevant variable in growth regressions. However, we do find evidence (within a cross-sectional framework), that educational achievement, measured by mean test scores, may provide a more reliable measure of human capital than mean years of schooling.
Year of publication: |
2014
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Authors: | Delgado, Michael S. ; Henderson, Daniel J. ; Parmeter, Christopher F. |
Published in: |
Oxford Bulletin of Economics and Statistics. - Department of Economics, ISSN 0305-9049. - Vol. 76.2014, 3, p. 334-359
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Publisher: |
Department of Economics |
Saved in:
Online Resource
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