Education Quality and Economic Growth: A New International Measure of Quality of Education

Hammed Musibau (), Joaquin Vespignani and Maria Belen Yanotti ()
Additional contact information
Hammed Musibau: School of Economics and Public Policy, Faculty of Arts, Business, Law and Economics, https://researchers.adelaide.edu.au/profile/hammed.musibau#contact-details
Maria Belen Yanotti: Tasmanian School of Business & Economics, University of Tasmania, https://discover.utas.edu.au/Maria.Yanotti

No 2024-05, Working Papers from University of Tasmania, Tasmanian School of Business and Economics

Abstract: This paper explores the impact of education quality on economic growth in 37 OECD countries. We developed a new dataset that combines mixed-frequency data, including low-frequency data (every three years) from the Programme for International Student Assessment (PISA) and annual data from the World Development Indicators (WDI), covering the period from 2000 to 2018. Our study investigates the relationship between education quality and economic growth. We found that a 1% increase in educational quality contribute to an annual economic growth rate of 2.8%. This result is significantly higher than previous research, which, based on cross-sectional PISA data, reported growth rates ranging from 0.4% to 2.3%.

Keywords: economic growth; education quality; PISA data (search for similar items in EconPapers)
JEL-codes: C31 F64 O47 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2024
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Published by the University of Tasmania. Discussion paper 2024-05

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Related works:
Working Paper: Education Quality and Economic Growth: A New International Measure of Quality of Education (2024)
Working Paper: Education Quality and Economic Growth: A New International Measure of Quality of Education (2024)
Working Paper: Education Quality and Economic Growth: A New International Measure of Quality of Education (2024)
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