Want Economic Growth with Good Quality Institutions? Spend on Education

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Want Economic Growth with Good Quality Institutions? Spend on Education

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Mamoon, Dawood
Murshed, Mansoob

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Dawood Mamoon

Abstract

The 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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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 3046.

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Date of creation: May 2007
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Handle: RePEc:pra:mprapa:3046

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Find related papers by JEL classification:
I28 - Health, Education, and Welfare - - Education - - - Government Policy
P36 - Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health, Education, Welfare, 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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Other versions:
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Other versions:
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