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Does investment in schooling raise national income? Evidence from cross-country studies
The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of the workers who receive the schooling and the external effects on workers’ earnings and on physical ...
Were Mankiw, Romer, and Weil Right? A reconciliation of the Micro and Macro Effects of Schooling on Income.
The marginal product of human capital in Mankiw, Romer, and Weil’s  augmented Solow model measures the direct and two external effects of human capital created from schooling on national income. If this model is ...
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 ...