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Economies of education: from theory to practice

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Author Info

  • George Psacharopoulos

Abstract

Economics of education is a relatively new field. In the four decades of its existence, it has generated a great number of hypotheses, empirical findings and Nobel Laureates. However, in the world live, there is an obvious divide between theory and practice -- Ministries of Education, in both industrial and developing countries, often act as if economics of education did not exist. Unfortunately, the same applies to international organizations with a mandate in education. The paper starts by reviewing major findings in the economics of education and their relevance to education policy making. It discusses the reasons why some robust research findings do not translate into practice. And it concludes by listing a number of research questions that are still open in the field.

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File URL: https://dipot.ulb.ac.be/dspace/bitstream/2013/11945/1/ber-0299.pdf
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Bibliographic Info

Article provided by ULB -- Universite Libre de Bruxelles in its journal Brussels economic review.

Volume (Year): 47 (2004)
Issue (Month): 3-4 ()
Pages: 341-358

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Handle: RePEc:bxr:bxrceb:y:2004:v:47:i:3-4:p:341-357

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Related research

Keywords: Economics of education; human capital; education poilicy;

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Cited by:
  1. Afonso, António & Jalles, João Tovar, 2013. "Growth and productivity: The role of government debt," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 384-407.

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