Schooling Quality and Economic Growth
AbstractMany studies of the determinants of economic growth rates across countries use a measure of schooling quantity, such as mean secondary school enrolment rates, to proxy for the rate of human capital accumulation. This approach ignores the contribution of schooling quality. We augment the growth model of Mankiw, Romer and Weil (1992) to include schooling quality, derive the relevant steady state income and growth rate equations, and then estimate the model. We find that differences in schooling quality across countries are probably more important than differences in schooling quantity in explaining variations in economic growth rates.
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Bibliographic InfoPaper provided by School of Economics, University of Wollongong, NSW, Australia in its series Economics Working Papers with number wp01-06.
Length: 25 pages
Date of creation: 2001
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Web page: http://business.uow.edu.au/econ/index.html
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Illawarra Regional Workplace Industrial Relations Survey; workplace employee relations; Australia;
Find related papers by JEL classification:
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
This paper has been announced in the following NEP Reports:
- NEP-ALL-2002-04-03 (All new papers)
- NEP-DEV-2002-04-03 (Development)
- NEP-LAB-2002-04-03 (Labour Economics)
- NEP-LAM-2002-04-03 (Central & South America)
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