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The Quality of Education, Educational Institutions, and Cross‐Country Differences in Human Capital Accumulation

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  • SHAWN D. KNABB
  • CHRISTIANA STODDARD

Abstract

ABSTRACT Cross‐country studies of education and economic prosperity often reach conflicting results when using growth rates as the measure of economic development. However, growth rates lack persistence over time and may not accurately measure long‐term economic success over relatively short economic horizons. To overcome this potential specification problem, we estimate the relationship between key education variables and the capital to physical labor ratio. Using both cross‐sectional and panel specifications, we find that both the primary‐pupil–teacher ratio and decentralized education finance are associated with a larger capital to physical labor ratio. The relationship between human capital and expenditures, private education, and test scores are less robust.

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  • Shawn D. Knabb & Christiana Stoddard, 2005. "The Quality of Education, Educational Institutions, and Cross‐Country Differences in Human Capital Accumulation," Growth and Change, Wiley Blackwell, vol. 36(3), pages 354-373, June.
    • Handle: RePEc:bla:growch:v:36:y:2005:i:3:p:354-373
    DOI: 10.1111/j.1468-2257.2005.00281.x
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    1. Jimenez, E. & Lockheed, M.E., 1995. "Public and Private Secondary Education in Developing Countries. A Comparative Study," World Bank - Discussion Papers 309, World Bank.
    2. Eric A. Hanushek & Dongwook Kim, 1995. "Schooling, Labor Force Quality, and Economic Growth," NBER Working Papers 5399, National Bureau of Economic Research, Inc.
    3. Barro, Robert J & Lee, Jong-Wha, 2001. "International Data on Educational Attainment: Updates and Implications," Oxford Economic Papers, Oxford University Press, vol. 53(3), pages 541-563, July.
    4. Jimenez, Emmanuel & Sawada, Yasuyuki, 1999. "Do Community-Managed Schools Work? An Evaluation of El Salvador's EDUCO Program," The World Bank Economic Review, World Bank, vol. 13(3), pages 415-441, September.
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    Cited by:

    1. Yu Zhang & Jianguo Liu, 2022. "Does Education Affect Economic Growth? A Re-Examination of Empirical Data from China," Sustainability, MDPI, vol. 14(23), pages 1-23, December.

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