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Education's Contribution to Economic Growth

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  • Conrad, Daren

Abstract

This paper attempts to reconcile the mismatch between theoretical models and empirical results in addressing the issue of education and economic growth. Development theorists have made numerous attempts to explain the contribution of education to economic growth. Over the years, numerous endogenous growth models have emerged to incorporate human capital and they have been subject to rigorous econometric techniques. However, these models have yielded inconclusive results. This paper begins by looking at the history of the development of endogenous growth theories and the various econometric specifications which were estimated. This paper also concludes by identifying the main themes that have emerged in the academic debate on education’s role in economic growth.

Suggested Citation

  • Conrad, Daren, 2017. "Education's Contribution to Economic Growth," MPRA Paper 77365, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:77365
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    File URL: https://mpra.ub.uni-muenchen.de/77365/1/MPRA_paper_77365.pdf
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    References listed on IDEAS

    as
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    3. Anand, Sudhir & Sen, Amartya, 2000. "Human Development and Economic Sustainability," World Development, Elsevier, vol. 28(12), pages 2029-2049, December.
    4. Gary S. Becker, 1962. "Investment in Human Capital: A Theoretical Analysis," Journal of Political Economy, University of Chicago Press, vol. 70, pages 1-9.
    5. Angel de la Fuente & Rafael Doménech, 2006. "Human Capital in Growth Regressions: How Much Difference Does Data Quality Make?," Journal of the European Economic Association, MIT Press, vol. 4(1), pages 1-36, March.
    6. Bessen, James, 2003. "Technology and Learning by Factory Workers: The Stretch-Out at Lowell, 1842," The Journal of Economic History, Cambridge University Press, vol. 63(01), pages 33-64, March.
    7. McMahon, Walter W., 2000. "Education and Development: Measuring the Social Benefits," OUP Catalogue, Oxford University Press, number 9780198292319.
    8. Daron Acemoglu & Fabrizio Zilibotti, 2001. "Productivity Differences," The Quarterly Journal of Economics, Oxford University Press, vol. 116(2), pages 563-606.
    9. Card, David & Krueger, Alan B, 1992. "Does School Quality Matter? Returns to Education and the Characteristics of Public Schools in the United States," Journal of Political Economy, University of Chicago Press, vol. 100(1), pages 1-40, February.
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    14. Caselli, Francesco & Esquivel, Gerardo & Lefort, Fernando, 1996. "Reopening the Convergence Debate: A New Look at Cross-Country Growth Empirics," Journal of Economic Growth, Springer, vol. 1(3), pages 363-389, September.
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    More about this item

    Keywords

    Education; Growth; Human Capital;

    JEL classification:

    • O12 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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