Publication type
Journal Article
Author
Publication date
June 1, 2014
Summary:
‘Human Capital Theory’ shows that education is a vital part of improving productivity. This paper investigates effects of tertiary education (post-school education: at universities, higher-education colleges, and similar institutions) on how productive an employee is. A problem with such research is to identify which variable is the cause, and which is the effect. This paper uses time-series regression analysis of World Bank data, on the fraction of a country’s workforce with tertiary education, and productivity. This paper also uses Britain as a case study: the British Household Panel Study shows what happens to a graduate in the years after they leave university. The delayed effects of education on output makes clear that education is a cause (rather than an effect) of improvements in productivity. In conclusion, university-level education is beneficial to economic growth.
Published in
International Journal of Economics
Volume and page numbers
Volume: 1 , p.45 -56
ISSN
2331589
Subjects
Link
http://www.journalofeconomics.org/index.php/site/article/view/53
Notes
Open Access journal
#522468