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An Econometric Study of the Impact of Education on the Economic Development of Low-Income Countries

Author

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  • G., Germinal
  • Taleb Da Costa, Marcella

Abstract

This paper has two purposes. The primary purpose of this paper is to investigate the contribution that education brings to society and to analyze how the educational system of low-income countries affects their economic development. The second purpose is to provide recommendations that will incentivize the improvement of the education system in low-income countries. To achieve these two objectives, we used several econometric techniques to measure the validity of three hypotheses. The first hypothesis measures the impact of literacy rate on human development of low-income countries. The second hypothesis measures the means years of schooling on income per capita in low-income countries, and the third hypothesis measures the impact of education on employment.

Suggested Citation

  • G., Germinal & Taleb Da Costa, Marcella, 2021. "An Econometric Study of the Impact of Education on the Economic Development of Low-Income Countries," MPRA Paper 107729, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:107729
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    File URL: https://mpra.ub.uni-muenchen.de/107729/1/MPRA_paper_107729.pdf
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    References listed on IDEAS

    as
    1. Hanushek, Eric A. & Jamison, Dean T. & Jamison, Eliot A. & Wößmann, Ludger, 2008. "Education and economic growth: It’s not just going to school, but learning something while there that matters," Munich Reprints in Economics 20467, University of Munich, Department of Economics.
    2. Alejandro J. Ganimian & Richard J. Murnane, 2014. "Improving Educational Outcomes in Developing Countries: Lessons from Rigorous Impact Evaluations," NBER Working Papers 20284, National Bureau of Economic Research, Inc.
    3. Whitney Newey & Kenneth West, 2014. "A simple, positive semi-definite, heteroscedasticity and autocorrelation consistent covariance matrix," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 33(1), pages 125-132.
    4. Gustavo J. Bobonis & Edward Miguel & Charu Puri-Sharma, 2006. "Anemia and School Participation," Journal of Human Resources, University of Wisconsin Press, vol. 41(4).
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    Cited by:

    1. Daxue Kan & Lianju Lyu & Weichiao Huang & Wenqing Yao, 2022. "The Impact of Urban Education on the Income Gap of Urban Residents: Evidence from Central China," Sustainability, MDPI, vol. 14(8), pages 1-16, April.
    2. Muzekenyi Mike & Nyika Farai & Anyikwa Izunna & Kemda Lionel Establet, 2023. "Re-Examining the Impact of Public Education Expenditure on South African Literacy," Economics and Business, Sciendo, vol. 37(1), pages 90-103, January.

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    Keywords

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    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling

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