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Economies of education: from theory to practice

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  • George Psacharopoulos

Abstract

Economics of education is a relatively new field. In the four decades of its existence, it has generated a great number of hypotheses, empirical findings and Nobel Laureates. However, in the world live, there is an obvious divide between theory and practice -- Ministries of Education, in both industrial and developing countries, often act as if economics of education did not exist. Unfortunately, the same applies to international organizations with a mandate in education. The paper starts by reviewing major findings in the economics of education and their relevance to education policy making. It discusses the reasons why some robust research findings do not translate into practice. And it concludes by listing a number of research questions that are still open in the field.

Suggested Citation

  • George Psacharopoulos, 2004. "Economies of education: from theory to practice," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 47(3-4), pages 341-358.
  • Handle: RePEc:bxr:bxrceb:y:2004:v:47:i:3-4:p:341-357
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    References listed on IDEAS

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    1. Schmidt, Christoph M. & Haisken-DeNew, John P. & Bauer, Thomas K., 2004. "International Labor Migration, Economic Growth and Labor Markets - The Current State of Affairs," RWI Discussion Papers 20, RWI - Leibniz-Institut für Wirtschaftsforschung.
    2. Winkelmann, Rainer, 2001. "Why Do Firms Recruit Internationally? Results from the IZA International Employer Survey 2000," IZA Discussion Papers 331, Institute for the Study of Labor (IZA).
    3. Bauer, Thomas K. & Lofstrom, Magnus & Zimmermann, Klaus F., 2000. "Immigration Policy, Assimilation of Immigrants and Natives' Sentiments towards Immigrants: Evidence from 12 OECD-Countries," IZA Discussion Papers 187, Institute for the Study of Labor (IZA).
    4. Winkelmann, Rainer & Kunze, Astrid & Locher, Lilo & Ward-Warmedinger, Melanie E., 2001. "Report No. 4: Die Nachfrage nach internationalen hochqualifizierten Beschäftigten," IZA Research Reports 4, Institute for the Study of Labor (IZA).
    5. Gil S. Epstein & Astrid Kunze & Melanie E. Ward, 2009. "High-Skilled Migration And The Exertion Of Effort By The Local Population," Scottish Journal of Political Economy, Scottish Economic Society, pages 332-352.
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    Cited by:

    1. Afonso, António & Jalles, João Tovar, 2013. "Growth and productivity: The role of government debt," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 384-407.

    More about this item

    Keywords

    Economics of education; human capital; education poilicy;

    JEL classification:

    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy

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