US-Europe Differences in Technology-Driven Growth: Quantifying the Role of Education / Dirk Krueger, Krishna B. Kumar.

Format:

Book

Author/Creator:

Krueger, Dirk.

Contributor:

National Bureau of Economic Research.

Kumar, Krishna B.

Series:

Working Paper Series (National Bureau of Economic Research) no. w10001.

NBER working paper series no. w10001

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

US-Europe Differences in Technology-Driven Growth

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2003.

Summary:

European economic growth has been weak, compared to the US, since the 80s. In previous work (Krueger and Kumar, 2003), we argued that the European focus on specialized, vocational education might have been effective during the 60s and 70s, but resulted in a growth gap relative to the US during the subsequent information age, when new technologies emerged more rapidly. In this paper, we extend our framework to assess the quantitative importance of education policy, when compared to labor market rigidity and product market regulation, other policy differences more commonly suggested to be responsible for US-Europe differences. A assigns a major role to education policy in explaining US-Europe growth differences.

Notes:

Print version record

September 2003.