 Education and Skills: An Assessment of Recent Canadian ExperienceA chapter in The State of Economics in Canada: Festschrift in Honour of David Slater, 2001, pp 485-517 from Centre for the Study of Living Standards Abstract: The skills issue is currently at or near the top of the federal government’s policy agenda, given its importance for harnessing the benefits of technological advances. Policy initiatives in the area should be premised on an accurate assessment of Canada’s recent experience in education and skill formation. In his paper, W. Craig Riddell attempts such an assessment. He provides a careful examination of trends in education expenditures and outcomes in Canada compared to other countries, looks at trends in the incidence of education, and analyzes the link between education and labour market success. Riddell’s overall assessment of Canada’s record in education and skills is quite positive. He finds that relative to other OECD countries, Canada ranks near the top in terms of expenditure per student and share of GDP devoted to elementary, secondary and post-secondary education; that Canada’s population is well educated by international standards, with the highest proportion of the population with non-university, post-secondary education in the OECD; and that the country’s literacy skills, particularly for the young and well educated, are above average among the G7 countries that participated in the International Adult Literacy Survey. One possible weakness he identifies is the relatively low student achievement in mathematics among the G7 countries that participated in the standardized tests. This suggests Canada may not be obtaining good “value for money” from its relatively high expenditure on education. Riddell notes that the conventional estimates of the return to education appear downward biased so that the causal effect of education on earnings may be higher than previously believed. Evidence suggests that the marginal return to incremental investment in education exceeds the average from previous investments and that there is no evidence that investments in schooling are running into diminishing returns. Riddell concludes that investments in human capital remain an important potential source of economic growth and equality of opportunity. Keywords: Education; Human Capital; Skills; Literacy; Numeracy; Canada; Post-secondary; Postsecondary; Post Secondary; Earnings; Return To Education (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sls:secfds:19 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in The State of Economics in Canada: Festschrift in Honour of David Slater from Centre for the Study of Living Standards 170 Laurier Ave. W, Suite 604, Ottawa, ON K1P 5V5. Contact information at EDIRC. |
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