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Education and Economic Development: An Empirical Perspective

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  • Erich Gundlach

    (Kiel Institute of World Economics)

Abstract

There is surprisingly little macroeconomic empirical research which would support a presumed link between education and development. I identify three major reasons why it remains difficult to estimate the economic relevance of education as a determinant of growth and development. First, most empirical research has ignored some of the crucial productivity aspects of education as proposed by new growth models. Second, measuring the contribution of education to economic development has largely ignored international differences in rates of return and the quality of education. Third, the allocation of resources within the education sector usually does not follow considerations of efficiency, which implies that additional spending on education cannot be expected to produce substantial output effects.

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Bibliographic Info

Article provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.

Volume (Year): 26 (2001)
Issue (Month): 1 (June)
Pages: 37-60

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Handle: RePEc:jed:journl:v:26:y:2001:i:1:p:37-60

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  1. Paul M Romer, 1999. "Endogenous Technological Change," Levine's Working Paper Archive 2135, David K. Levine.
  2. Eric A. Hanushek & Steven G. Rivkin, 1997. "Understanding the Twentieth-Century Growth in U.S. School Spending," Journal of Human Resources, University of Wisconsin Press, vol. 32(1), pages 35-68.
  3. Barro, Robert J, 1999. " Notes on Growth Accounting," Journal of Economic Growth, Springer, vol. 4(2), pages 119-37, June.
  4. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
  5. Gundlach, Erich, 1994. "The role of human capital in economic growth: new results and alternative interpretations," Kiel Working Papers 659, Kiel Institute for the World Economy.
  6. Psacharopoulos, George, 1993. "Returns to investment in education : a global update," Policy Research Working Paper Series 1067, The World Bank.
  7. Nelson, Richard R, 1973. "Recent Exercises in Growth Accounting: New Understanding or Dead End?," American Economic Review, American Economic Association, vol. 63(3), pages 462-68, June.
  8. Zvi Griliches, 1996. "Education, Human Capital and Growth: A Personal Perspective," Harvard Institute of Economic Research Working Papers 1745, Harvard - Institute of Economic Research.
  9. Eric A. Hanushek & Dongwook Kim, 1995. "Schooling, Labor Force Quality, and Economic Growth," NBER Working Papers 5399, National Bureau of Economic Research, Inc.
  10. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  11. Benhabib, J. & Spiegel, M., 1992. "The Role of Human Capital in economic Development: Evidence form Aggregate Cross-Country Regional U.S. Data," Working Papers 92-46, C.V. Starr Center for Applied Economics, New York University.
  12. Prescott, Edward C, 1998. "Needed: A Theory of Total Factor Productivity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 525-51, August.
  13. Pritchett, Lant & Filmer, Deon, 1999. "What education production functions really show: a positive theory of education expenditures," Economics of Education Review, Elsevier, vol. 18(2), pages 223-239, April.
  14. Gemmell, Norman, 1996. "Evaluating the Impacts of Human Capital Stocks and Accumulation on Economic Growth: Some New Evidence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 58(1), pages 9-28, February.
  15. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
  16. Gundlach, Erich, 1999. "Die Produktivität der Bildung," Open Access Publications from Kiel Institute for the World Economy 2320, Kiel Institute for the World Economy (IfW).
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Cited by:
  1. Khattak, Naeem Ur Rehman & khan, jangraiz, 2012. "The Contribution of Education to Economic Growth: Evidence from Pakistan," MPRA Paper 51180, University Library of Munich, Germany.
  2. Farhang Niroomand & Edward Nissan, 2007. "Socio-Economic Gaps within the EU: A Comparison," International Advances in Economic Research, Springer, vol. 13(3), pages 365-378, August.

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