Education and Economic Development: An Empirical Perspective

Erich Gundlach

Journal of Economic Development, 2001, vol. 26, issue 1, 37-60

Abstract: There is surprisingly little macroeconomic empirical research which would support a presumed link between education and development. I identify three major reasons why it remains difficult to estimate the economic relevance of education as a determinant of growth and development. First, most empirical research has ignored some of the crucial productivity aspects of education as proposed by new growth models. Second, measuring the contribution of education to economic development has largely ignored international differences in rates of return and the quality of education. Third, the allocation of resources within the education sector usually does not follow considerations of efficiency, which implies that additional spending on education cannot be expected to produce substantial output effects.

Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://www.jed.or.kr/full-text/26-1/gundlach.PDF (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:jed:journl:v:26:y:2001:i:1:p:37-60

Access Statistics for this article

Journal of Economic Development is currently edited by Sung Y. Park

More articles in Journal of Economic Development from Chung-Ang Unviersity, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Sung Y. Park ().