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Education and Economic Growth: A Meta-Regression Analysis

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  • Benos, Nikos
  • Zotou, Stefania

Abstract

This paper surveys the literature which examines the effect of education on economic growth. Specifically, we apply meta-regression analysis to 57 studies with 989 estimates and show that there is substantial publication selection bias toward a positive impact of education on growth. Once we account for this, the genuine growth effect of education is not homogeneous across studies, but varies according to several factors. Specifically, it is attributed to differences in education measurement and study characteristics, mainly model specification as well as type of data used, and the quality of research outlets where studies are published, e.g., academic journals vs. working papers.

Suggested Citation

  • Benos, Nikos & Zotou, Stefania, 2014. "Education and Economic Growth: A Meta-Regression Analysis," World Development, Elsevier, vol. 64(C), pages 669-689.
  • Handle: RePEc:eee:wdevel:v:64:y:2014:i:c:p:669-689
    DOI: 10.1016/j.worlddev.2014.06.034
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    More about this item

    Keywords

    education; human capital; economic growth; meta-regression analysis; world sample;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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