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Education and Economic Growth: A Case Study of Australia

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Author Info
Sawami Matsushita (Centre for Labour Market Research, The University of Western Australia)
Abu Siddique (Business School, The University of Western Australia)
Margaret Giles (Business School, The University of Western Australia)
Abstract

The 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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File URL: http://www.biz.uwa.edu.au/home/research/discussionworking_papers/economics?f=146999
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File Function: First version, 2006
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Publisher Info
Paper provided by The University of Western Australia, Department of Economics in its series Economics Discussion / Working Papers with number 06-15.

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Length: 28 pages
Date of creation: 2006
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Handle: RePEc:uwa:wpaper:06-15

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Related research
Keywords: Growth Accounding Education Economic Growth

Other versions of this item:

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

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    Other versions:
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    Other versions:
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  12. Gemmell, Norman, 1996. "Evaluating the Impacts of Human Capital Stocks and Accumulation on Economic Growth: Some New Evidence," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 58(1), pages 9-28, February.
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  13. Steve Dowrick & Mark Rogers, 2002. "Classical and technological convergence: beyond the Solow-Swan growth model," Oxford Economic Papers, Oxford University Press, vol. 54(3), pages 369-385, July.
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  16. Miller, Paul W & Mulvey, Charles & Martin, Nick, 1995. "What Do Twins Studies Reveal about the Economic Returns to Education? A Comparison of Australian and U.S. Findings," American Economic Review, American Economic Association, vol. 85(3), pages 586-99, June. [Downloadable!] (restricted)
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