What Level of Education Matters Most for Growth? Evidence from Portugal
We decompose an annual average years of schooling series for Portugal into different schooling levels series. By estimating a number of vector autoregressions, we provide measures of aggregate and disaggregate economic growth impacts of different education levels. Increasing education at all levels except tertiary have a significant effect on growth. Investment in education does not significantly crowd out physical investment and average years of schooling semi-elasticities have comparable magnitude across primary and secondary levels.
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Web page: https://aquila1.iseg.ulisboa.pt/aquila/departamentos/EC
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