Want Economic Growth with Good Quality Institutions? Spend on Education
AbstractThe purpose of this paper is to compare the role of human capital accumulation measured by number of years of schooling with the relative contribution of institutional capacity to prosperity. We employ several concepts of institutional quality prevalent in the literature. We discover that developing human capital is as important as superior institutional functioning for economic wellbeing. Indeed, the accumulation of human capital stocks via increased education might lead to improved institutional functioning, and the utilisation of policies like trade liberalisation.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 3046.
Date of creation: May 2007
Date of revision:
Growth; Institutions; Human Capital;
Other versions of this item:
- Dawood Mamoon & S. Mansoob Murshed, 2009. "Want economic growth with good quality institutions? Spend on education," Education Economics, Taylor and Francis Journals, vol. 17(4), pages 445-468.
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
- P36 - Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-05-12 (All new papers)
- NEP-EDU-2007-05-12 (Education)
- NEP-HAP-2007-05-12 (Economics of Happiness)
- NEP-HRM-2007-05-12 (Human Capital & Human Resource Management)
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