Examinando por Materia "Production Function"
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Ítem Education and Growth: Where All the Education Went(Universidad EAFIT, 2016-02-01) Breton, Theodore R.; Siegel Breton, Andrew; tbreton@eafit.edu.coWe investigate why the economics literature often finds a negative relationship between increased schooling and GDP growth over short periods. We show that increases in GDP in 98 countries during five-year intervals are correlated with the increases in adults´ average schooling during the prior 40 years. We find that an additional year of schooling of the work force raised GDP by 7% on average during 1980-2005, but its initial effect on GDP was much smaller. The delayed effect of increased schooling on national productivity explains why recent increases in schooling cannot explain near-term increases in GDP.