The Quality vs. the Quantity of Schooling: What Drives Economic Growth?

Theodore Breton ()

No 11829, Documentos de Trabajo de Valor Público from Universidad EAFIT

Abstract: This paper challenges Hanushek and Woessmann’s [2008] contention that the quality and not the quantity of schooling determines a nation’s rate of economic growth. I first show that their statistical analysis is flawed. I then show that when a nation’s average test scores and average schooling attainment are included in a national income model, both measures explain income differences, but schooling attainment has greater statistical significance. The high correlation between a nation’s average schooling attainment, cumulative investment in schooling, and average tests scores indicates that average schooling attainment implicitly measures the quality as well as the quantity of schooling.

Keywords: Cognitive Skills; Human Capital; Education; Schooling; Economic Growth (search for similar items in EconPapers)
JEL-codes: F43 I21 O11 O15 (search for similar items in EconPapers)
Pages: 26
Date: 2011-01-29
References: Add references at CitEc
Citations: View citations in EconPapers (36)

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Related works:
Journal Article: The quality vs. the quantity of schooling: What drives economic growth? (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:col:000122:011829

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