Education and Growth: Where All the Education Went

Theodore Breton () and Andrew Siegel Breton

No 14327, Documentos de Trabajo de Valor Público from Universidad EAFIT

Abstract: 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.

Keywords: Education; Economic Growth; Multi-country; Human Capital; Production Function (search for similar items in EconPapers)
JEL-codes: I25 O47 (search for similar items in EconPapers)
Pages: 19
Date: 2016-02-01
New Economics Papers: this item is included in nep-edu and nep-gro
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:col:000122:014327

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