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Education and Economic Growth: A Case Study of Australia

Sawami Matsushita, Abu Siddique and Margaret Giles ()
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Sawami Matsushita: Centre for Labour Market Research, The University of Western Australia
Abu Siddique: Business School, The University of Western Australia

No 06-15, Economics Discussion / Working Papers from The University of Western Australia, Department of Economics

Abstract: The purpose of this paper is to measure the contribution of education to growth in per capita real GDP in Australia over the period 1969-2003 using the growth accounting method. Also estimated is the contribution of total factor productivity to growth. Over the period, per capita real GDP in Australia increased by 1.9 percent per annum. Of this, about 31 percent was contributed by education. This finding has important implications for policy makers in Australia. For example, in order to promote economic growth in coming years, access to post compulsory education, particularly vocational education and training and higher education, for all Australians should be made easier and cheaper. This contradicts recent trends at the federal level towards increasing the student share of education costs.

Keywords: Growth Accounding; Education; Economic Growth (search for similar items in EconPapers)
JEL-codes: I29 O47 O56 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2006
New Economics Papers: this item is included in nep-edu and nep-hrm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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