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From the point of view of economic development, education is the acquisition of knowledge and skills through … experiences from conception onwards over the life cycle that increase productivity broadly defined. Education can occur through …. The proximate determinants of education are experiences or inputs into knowledge and skills production functions. Within a …
Persistent link: https://www.econbiz.de/10010702977
This article presents revised estimates of the external rates of return on investment in schooling provided in “Schooling and National Income: How Large Are the Externalities?” The analysis is based on data for the same set of countries, but it incorporates methodological improvements that...
Persistent link: https://www.econbiz.de/10010827912
This paper challenges Hanushek and Woessmann’s [2008] contention that the quality and not the quantity of schooling determines a nation’s rate of economic growth. I first show that their statistical analysis is flawed. I then show that when a nation’s average test scores and average...
Persistent link: https://www.econbiz.de/10011123726
The relationship between education and economic growth has been one of the fundamental themes of economic analysis …. Despite the growing interest in the relationship between growth and education, and despite the strong theoretical foundations … for a key role of education/human capital in economic growth, the empirical evidences, particularly those using causality …
Persistent link: https://www.econbiz.de/10011108298
workforce. The education system churns out students that are not immediately employable and skill up-gradation on the job is low … outcomes are not favoring the expectations of the labor force. While 56 percent of the higher education institutes are devoted … percent, seven percent and six percent of total institutes respectively. The dominance of general education has prevented the …
Persistent link: https://www.econbiz.de/10011111520
Students´ test scores at ages 9 to 15 are a measure of their skills as workers five to 55 years later. Using historic data on test scores and school attendance, I calculate the share of workers in 2005 that could have scored above 400 and above 600 in 45 countries. I find that the share above...
Persistent link: https://www.econbiz.de/10010762758
This paper presents evidence that students´ test scores at ages 9 to 15 are not a good proxy for a nation´s stock of human capital. Across countries test scores rise with increases in human capital up to $40,000/adult (2000$), but then decline as human capital increases up to $125,000/adult....
Persistent link: https://www.econbiz.de/10010762796
The marginal product of human capital in Mankiw, Romer, and Weil´s [1992] augmented Solow model measures the direct and two external effects of human capital created from schooling on national income. If this model is valid, its estimates of the share of this marginal product accruing to...
Persistent link: https://www.econbiz.de/10010762805
This article presents revised estimates of the external rates of return on investment in schooling provided in Schooling and National Income: How Large Are the Externalities?" The analysis is based on data for the same set of countries, but it incorporates methodological improvements that yield...
Persistent link: https://www.econbiz.de/10010762830
The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of the workers who receive the schooling and the external effects on workers´ earnings and on physical capital due to schooling´s spillover effect on the productivity of these...
Persistent link: https://www.econbiz.de/10010762853