Which level of schooling has the greatest economic impact on output?

Stephen Knowles ()

Applied Economics Letters, 1997, vol. 4, issue 3, 177-180

Abstract: An assessment is made of whether primary, secondary or tertiary education has the greatest impact on national income. An aggregate production function is estimated for a cross-section of 77 countries which disaggregates the labour force on the basis of the highest level of schooling attained. The results imply that for both high-income and less developed countries the marginal product of labour increases with each successive level of schooling. Tertiary education has the greatest economic impact.

Date: 1997
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DOI: 10.1080/135048597355465

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