The Quality vs. the Quantity of Schooling: What Drives Economic Growth?
Abstract
Abstract
This paper challenges Hanushek and Woessmann's (2008) 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 then show that when a nation's average test scores and average schooling attainment are included in a national income model, both measures explain income differences, but schooling attainment has greater statistical significance. The high correlation between a nation's average schooling attainment, cumulative investment in schooling, and average tests scores indicates that average schooling attainment implicitly measures the quality as well as the quantity of schooling.
Editor URL
Economics of Education Review. Vol.30(4), 2011, pp.765-773http://www.sciencedirect.com/science/article/pii/S0272775711000069
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