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The Wavering Economic Thought About The Link Between Education And Growth

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Listed:
  • Maté Fodor
  • Jean Luc De Meulemeester
  • Denis Rochat

Abstract

The objective of this paper is twofold. On the one hand, it provides a balanced account of both theoretical and empirical debates on the link between education and growth since World War 2. We point out the lack of a clear-cut consensus.On the other hand, we question the traditional measurements of human capital, and assess their fit to various theoretical models of growth. Subsequently, we provide a new and arguably more appropriate proxy. Using it, we document crude correlations in line with the literature, pointing out that education may not be an appropriate instrument to accelerate growth.

Suggested Citation

  • Maté Fodor & Jean Luc De Meulemeester & Denis Rochat, 2019. "The Wavering Economic Thought About The Link Between Education And Growth," Working Papers CEB 19-006, ULB -- Universite Libre de Bruxelles.
  • Handle: RePEc:sol:wpaper:2013/285160
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    References listed on IDEAS

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    More about this item

    Keywords

    Education; Growth; Human capital; Education policy;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development

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