Now showing items 11-20 of 23
Schooling attainment, schooling expenditures, and test scores what causes economic growth?
(Universidad EAFIT, 2013-05-09)
Cognitive Skills, Schooling Attainment, and Schooling Resources: What Drives Economic Growth?
This paper presents evidence that students’ test scores at ages 9 to 15 are not a good proxy for a nation’s stock of human capital. Across countries test scores rise with increases in human capital up to $40,000/adult ...
Education and Growth: Where All the Education Went
(Universidad EAFIT, 2016-02-01)
We 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 ...
Penn world table 7.0: are the data flawed?
Penn World Table (PWT) 7.0 is the newest PWT data set, based in part on benchmarked prices collected in 2005. In theory the data in PWT 7.0 should be more accurate than the data in PWT 6.3 since 1996 and similar in earlier ...
Schooling and National Income: How Large Are the Externalities?
(Universidad EAFIT, 2007-05-01)
This paper uses a new data set for cumulative national investment in formal schooling and a newinstrument for schooling to estimate the national return on investment in 61 countries. These estimates are combined with data ...
Schooling and Economic Growth: What Have We Learned?
(Universidad EAFIT, 2014-04-07)
This paper explains why different studies present widely-varying estimates of the effect of increased schooling on national income. It shows that when correctly-interpreted, these studies support the hypothesis that a ...
Higher Test Scores or More Schooling? Another Look at the Causes of Economic Growth
(Universidad EAFIT, 2013-11-05)
I use a dynamic augmented Solow model to estimate the effects of students’ test scores and investment in schooling on economic growth rates in 49 countries during 1985-2005. In the complete data set, either average test ...
A Human Capital Theory of Growth: New Evidence for an Old Idea
(Universidad EAFIT, 2014-01-01)
In 1960 Theodore Schultz expounded a human capital theory of economic growth that includes three elements: 1) Countries without much human capital cannot manage physical capital effectively, 2) Economic growth can only ...
The Quality vs. the Quantity of Schooling: What Drives Economic Growth?
(Universidad EAFIT, 2011-01-19)
This paper challenges Hanushek and Woessmann’s  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 ...
Human capital and growth in japan since 1970: converging to the steady state in a 1% world.
Annual growth in GDP/adult in Japan has declined from over 10% in 1969 to an average of 1% since the financial crisis in 1991. I show that a dynamic Solow growth model, augmented with human capital, weekly labor-hours, ...