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Economic Growth and Investment in Education: How Allocation Matters

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Author Info
 Judson, Ruth
Abstract

This article proposes an approach to answering two questions: first, does investment in education help growth; second, does the allocation of investment in education matter? I develop a model where individual ability is heterogeneous and education both trains students and reveals their suitability for further training. I use UNESCO data on educational enrollments and spending to estimate the efficiency of existing educational allocations in a panel of countries. A cross-country growth decomposition regression shows that the correlation of human capital capital accumulation and GDP growth is not significant in countries with poor allocations but is significant and positive in countries with better allocations. Copyright 1998 by Kluwer Academic Publishers

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Publisher Info
Article provided by Springer in its journal Journal of Economic Growth.

Volume (Year): 3 (1998)
Issue (Month): 4 (December)
Pages: 337-59
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Handle: RePEc:kap:jecgro:v:3:y:1998:i:4:p:337-59

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  1. Jayasri Dutta & James Sefton & Martin Weale, 1999. "Education and public policy," Fiscal Studies, Institute for Fiscal Studies, vol. 20(4), pages 351-386, December. [Downloadable!]
  2. Era Dabla-Norris & John Matovu, 2002. "Composition of Government Expenditures and Demand for Education in Developing Countries," IMF Working Papers 02/78, International Monetary Fund. [Downloadable!]
  3. Osipian, Ararat, 2007. "Экономический Рост: Образование Как Фактор Производства
    [Economic Growth: Education as a Factor of Production]    ," MPRA Paper 7593, University Library of Munich, Germany. [Downloadable!]
  4. Ben Mimoun, Mohamed & Raies, Asma, 2008. "Human capital investment and growth: A dynamic education model," MPRA Paper 9374, University Library of Munich, Germany. [Downloadable!]
  5. Volker Meier, 2000. "Choosing Between School Systems," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  6. Alberto Alesina & Alberto Carrasquilla & Juan José Echavarría Soto, 2000. "Decentralization in Colombia," WORKING PAPERS SERIES. DOCUMENTOS DE TRABAJO 002254, FEDESARROLLO. [Downloadable!]
  7. Barbara Sianesi & John Van Reenen, 2000. "The Returns to Education: A Review of the Macro-Economic Literature," CEE Discussion Papers 0006, Centre for the Economics of Education, LSE. [Downloadable!]
  8. Dabla-Norris, Era & Matoovu, John M. & Wade, Paul, 2002. "Debt Relief, Demand for Eduction, and Poverty," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
  9. Osipian, Ararat, 2007. "Human capital—economic growth nexus in the former Soviet Bloc," MPRA Paper 8463, University Library of Munich, Germany. [Downloadable!]
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