Education Quality and Economic Growth: A New International Measure of Quality of Education

Hammed Musibau, Joaquin Vespignani and Maria Belen Yanotti

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: This paper explores the impact of education quality on economic growth in 37 OECD countries. We developed a new dataset that combines mixed-frequency data, including low-frequency data (every three years) from the Programme for International Student Assessment (PISA) and annual data from the World Development Indicators (WDI), covering the period from 2000 to 2018. Our study investigates the relationship between education quality and economic growth. We found that a 1% increase in educational quality contribute to an annual economic growth rate of 2.8%. This result is significantly higher than previous research, which, based on cross-sectional PISA data, reported growth rates ranging from 0.4% to 2.3%.

Keywords: economic growth; education quality; PISA data (search for similar items in EconPapers)
JEL-codes: C31 F64 O47 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2024-12
New Economics Papers: this item is included in nep-edu and nep-knm
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https://crawford-prod.anu.edu.au/sites/default/fil ... spignani_Yanotti.pdf

Related works:
Working Paper: Education Quality and Economic Growth: A New International Measure of Quality of Education (2024)
Working Paper: Education Quality and Economic Growth: A New International Measure of Quality of Education (2024)
Working Paper: Education Quality and Economic Growth: A New International Measure of Quality of Education (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2024-72

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