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THE WAVERING ECONOMIC THOUGHT ABOUT THE LINK BETWEEN EDUCATION AND GROWTH

Maté Fodor, Jean-Luc De Meulemeester and Denis Rochat

No 19-006, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: The objective of this paper is twofold. On the one hand, it provides a balanced account of both theoretical and empirical debates on the link between education and growth since World War 2. We point out the lack of a clear-cut consensus.On the other hand, we question the traditional measurements of human capital, and assess their fit to various theoretical models of growth. Subsequently, we provide a new and arguably more appropriate proxy. Using it, we document crude correlations in line with the literature, pointing out that education may not be an appropriate instrument to accelerate growth.

Keywords: Education; Growth; Human capital; Education policy (search for similar items in EconPapers)
JEL-codes: E24 O40 B22 B23 I25 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gro, nep-hpe and nep-mac
Date: 2019-03-06
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