Education and Economic Growth: A Case Study of Australia
AbstractThe purpose of this paper is to measure the contribution of education to growth in per capita real GDP in Australia over the period 1969-2003 using the growth accounting method. Also estimated is the contribution of total factor productivity to growth. Over the period, per capita real GDP in Australia increased by 1.9 percent per annum. Of this, about 31 percent was contributed by education. This finding has important implications for policy makers in Australia. For example, in order to promote economic growth in coming years, access to post compulsory education, particularly vocational education and training and higher education, for all Australians should be made easier and cheaper. This contradicts recent trends at the federal level towards increasing the student share of education costs.
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Bibliographic InfoPaper provided by The University of Western Australia, Department of Economics in its series Economics Discussion / Working Papers with number 06-15.
Length: 28 pages
Date of creation: 2006
Date of revision:
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Postal: 35 Stirling Highway, Crawley, W.A. 6009
Phone: (08) 9380 2918
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Web page: http://www.business.uwa.edu.au/school/disciplines/economics
More information through EDIRC
Growth Accounding; Education; Economic Growth;
Find related papers by JEL classification:
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O56 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Oceania
- I29 - Health, Education, and Welfare - - Education - - - Other
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-HRM-2007-05-12 (Human Capital & Human Resource Management)
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