The knowledge capital of nations : education and the economics of growth / Eric A. Hanushek and Ludger Woessmann.

Format:

Book

Author/Creator:

Hanushek, Eric A. (Eric Alan), 1943- author.

Woessmann, Ludger, author.

Series:

CESifo book series

Language:

English

Subjects (All):

Economic development--Effect of education on.

Economic development.

Education--Economic aspects.

Education.

Physical Description:

1 online resource (xii, 262 pages) : illustrations.

Place of Publication:

Cambridge, Massachusetts : The MIT Press, [2015]

System Details:

text file

Summary:

A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population.

Contents:

1 Introduction 1

1.1 The World as Seen from Latin America in 1960 2

1.2 The Focus on Growth 5

1.3 Outline of the Book 6

Appendix 1A Regional Education, Income, and Growth Statistics 7

2 A Structure for Understanding Growth 9

2.1 A Conceptual Framework for Knowledge and Growth 10

2.2 A Canonical Growth Model with School Attainment 12

2.3 An Extended View of the Measurement of Human Capital 15

2.4 Measuring Knowledge 16

2.5 Conclusions on Human Capital and Growth 27

Appendix 2A Methodology of Data Construction 29

Appendix 2B Country-Level School Quality and Mincer Returns 37

3 Knowledge Capital and Growth: The Main Results 39

3.1 Stylized Facts about Knowledge Capital and Growth 41

3.2 Institutions, Knowledge Capital, and Growth 54

3.3 Rocket Scientists or Basic Education for All? 59

3.4 Conclusions on the Empirical Relevance of Knowledge Capital 64

Appendix 3A Alternative Data and Expansion of Growth Period 66

Appendix 3B Relevance of Sample Selectivity 68

Appendix 3C IQ Models 76

Appendix 3D Basic Descriptive Statistics 78

4 Causation 79

4.1 Variations in Cognitive Skills Driven by School Institutions 81

4.2 Skill Improvement and Improved Growth 88

4.3 Micro Evidence from US Immigrants 94

4.4 Accounting for Levels of Development across Countries 101

4.5 Conclusions on Causality 106

Appendix 4A Descriptive Statistics for Causation Analyses 107

5 Developing Countries 109

5.1 Where Does the Developing World Stand? 110

5.2 The Latin American Growth Puzzle Resolved 116

5.3 The East Asian Miracle Demystified 128

5.4 Conclusions on the Developing Country Challenge 137

Appendix 5A Descriptive Statistics for Latin America 139

6 Developed Countries 143

6.1 Basic Growth Models for OECD Countries 145

6.2 Regulatory Environments and Growth among Rich Countries 149

6.3 Different Levels of Skills and Education 152

6.4 Conclusions on Growth among Rich Countries 156

7 The Economic Value of Educational Reform 157

7.1 Projecting the Economic Benefits of Reform 158

7.2 Baseline Reform Projections 161

7.3 An Alternative Neoclassical Growth Framework 168

7.4 Sensitivity to Alternative Parameter Choices 172

7.5 Conclusions on the Benefits and Costs of Educational Reform 173

Appendix 7A Technical Details of Reform Projections 176

Appendix 7B Sensitivity of Economic Projections 177

8 Policies to Improve Knowledge Capital 185

8.1 Resource and Input Policies 187

8.2 Generalizing from Existing Evidence 190

8.3 Teacher Quality 193

8.4 Focusing Institutions and Incentives on Knowledge Outcomes 194

8.5 Equity in Knowledge Acquisition 198

8.6 Conclusions on Improving Knowledge Capital 202.

Notes:

OCLC-licensed vendor bibliographic record.

ISBN:

9780262329170

0262329174

OCLC:

907676455

Access Restriction:

Restricted for use by site license.