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Education and Growth: Where All the Education Went

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  • Theodore R. Breton
  • Andrew Siegel Breton

Abstract

We investigate why the economics literature often finds a negative relationship between increased schooling and GDP growth over short periods. We show that increases in GDP in 98 countries during five-year intervals are correlated with the increases in adults´ average schooling during the prior 40 years. We find that an additional year of schooling of the work force raised GDP by 7% on average during 1980-2005, but its initial effect on GDP was much smaller. The delayed effect of increased schooling on national productivity explains why recent increases in schooling cannot explain near-term increases in GDP.

Suggested Citation

  • Theodore R. Breton & Andrew Siegel Breton, 2016. "Education and Growth: Where All the Education Went," Documentos de Trabajo de Valor Público 14327, Universidad EAFIT.
    • Handle: RePEc:col:000122:014327
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    File URL: http://hdl.handle.net/10784/7976
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    Cited by:

    1. Valero, Anna & Van Reenen, John, 2019. "The economic impact of universities: Evidence from across the globe," Economics of Education Review, Elsevier, vol. 68(C), pages 53-67.

    More about this item

    Keywords

    Education; Economic Growth; Multi-country; Human Capital; Production Function;
    All these keywords.

    JEL classification:

    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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