What Level of Education Matters Most for Growth? Evidence from Portugal

Miguel St. Aubyn () and Joao Paulo Cabral Pereira ()

No 2004/13, Working Papers from Department of Economics at the School of Economics and Management (ISEG), Technical University of Lisbon.

Abstract: 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.

Keywords: Economic growth; education; human capital; Portugal. (search for similar items in EconPapers)
JEL-codes: I21 O40 O52 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-edu
Date: 2004
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Journal Article: What level of education matters most for growth?: Evidence from Portugal (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:ise:isegwp:wp132004

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