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.
Source / Editor URL
Economics of Education Review. Vol.30(4), 2011, pp.765-773http://www.sciencedirect.com/science/article/pii/S0272775711000069
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