Growth and Education

Does education matter for growth? Which type of education investment (primary, secondary, or tertiary) matters most? Is there a relationship between growth or innovation and the governance of higher education? This paper surveys recent attempts at...

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Bibliographic Details
Main Author:	Aghion, Philippe
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ACADEMIC AUTONOMY ACADEMIC PERFORMANCE ALLOCATION AMERICAN UNIVERSITIES ANNUAL GROWTH ANNUAL GROWTH RATE AVERAGE GROWTH AVERAGE LEVEL AVERAGE PRODUCTIVITY BENCHMARK CAPITAL ACCUMULATION CAPITAL INCREASES CAPITAL PRODUCES COMMUNITY COLLEGES COUNTRY CASE COUNTRY REGRESSIONS CROSS COUNTRY CURRICULUM DEGREES DEVELOPING COUNTRIES DEVELOPMENT PRACTITIONERS DISCIPLINES DISTRIBUTION OF WEALTH ECONOMETRIC ANALYSIS ECONOMETRICS ECONOMIC COOPERATION ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC LITERATURE ECONOMIC RESEARCH ECONOMICS EDUCATION SECTOR EDUCATION SYSTEMS EDUCATIONAL ATTAINMENT EDUCATIONAL POLICY EMPIRICAL WORK ERROR TERM EXPENDITURES EXPLANATORY VARIABLES EXPORT DIVERSIFICATION EXTERNALITIES FACULTIES FACULTY POSITIONS FISCAL POLICIES FIXED EFFECTS FUTURE RESEARCH GDP GDP PER CAPITA GRADUATE SCHOOLS GROWTH IMPACT GROWTH LITERATURE GROWTH MODEL GROWTH MODELS GROWTH PERFORMANCE GROWTH RATE GROWTH THEORY HIGHER EDUCATION HIGHER EDUCATION FUNDING HIGHER EDUCATION SPENDING HUMAN CAPITAL INCREASING RETURNS INCREASING RETURNS TO SCALE INDIVIDUAL COUNTRIES INDUSTRIALIZED COUNTRIES LABOR MARKET LABOR MARKETS LEARNING LITERATURE LONG RUN LOW-INCOME COUNTRIES MACROECONOMIC POLICY MATHEMATICS MONETARY ECONOMICS NATURAL RESOURCES NATURAL SCIENCES OUTPUT GROWTH PANEL REGRESSIONS PAPERS PERFORMANCE INDICATORS PHYSICS POLICY MAKERS POLICY RESEARCH POLITICAL ECONOMY POSTGRADUATE EDUCATION POVERTY REDUCTION PRIMARY EDUCATION PRIVATE OWNERSHIP PRIVATE UNIVERSITIES PRIVATE UNIVERSITY PRODUCTION FUNCTION PRODUCTIVITY PRODUCTIVITY GROWTH PROFESSORS PUBLIC EXPENDITURE PUBLIC UNIVERSITIES PUBLIC UNIVERSITY PUBLISHERS RELATIVE IMPORTANCE REPUBLIC RESEARCH FUNDING RESEARCH GRANTS RESEARCH PERFORMANCE RESEARCH UNIVERSITIES RESEARCH UNIVERSITY RESEARCHERS RISK AVERSION SCHOLARS SCHOOLS SECONDARY EDUCATION SENIORITY SIGNIFICANT CORRELATION SIGNIFICANT EFFECT SKILLED LABOR SKILLED WORKERS SOCIAL SCIENCE STANDARD DEVIATION TEACHING TECHNOLOGICAL INNOVATION TECHNOLOGY FRONTIER TERTIARY EDUCATION TUITION UNDERGRADUATE EDUCATION UNDERGRADUATE LEVEL UNIVERSITIES UNIVERSITY AUTONOMY UNIVERSITY BUDGET UNIVERSITY EDUCATION UNIVERSITY FACULTY UNIVERSITY FUNDING UNIVERSITY GOVERNANCE UNIVERSITY PERFORMANCE UNIVERSITY REFORM UNIVERSITY SYSTEMS VOTERS WAGES WORKERS
Online Access:	http://documents.worldbank.org/curated/en/299411468157177713/Growth-and-education http://hdl.handle.net/10986/27936

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Summary:	Does education matter for growth? Which type of education investment (primary, secondary, or tertiary) matters most? Is there a relationship between growth or innovation and the governance of higher education? This paper surveys recent attempts at answering these questions. It first contrasts the 'Lucas approach,' whereby growth is affected by the accumulation of human capital, with the 'Nelson?Phelps approach,' whereby growth is affected by the stock of human capital and by its interaction with the underlying process of technological innovation. Then the paper argues that growth in countries that are close to the world technological frontier benefit more from tertiary education, whereas countries that lie below the frontier benefit more from primary and secondary education. Finally, the paper discusses the relationship between innovation and the governance of universities.

Growth and Education

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