Abstract
We construct a comprehensive database of educational quality by cohort for 92 countries from 1970 to 2015 and analyze its impact on disparities in income and growth worldwide. To estimate educational quality, we utilize secondary students’ scores on international mathematics and science tests. Additionally, we impute unobserved test scores for individual countries in non-participating survey years. Wage regressions using individual earnings data reveal considerable returns to educational quality. We estimate human capital stock by incorporating differences in educational quantity and quality by age group across countries and over time. Our newly-constructed human capital dataset enabled us to explore the role of educational quality and human capital in understanding cross-country income disparities. The findings from development and growth accounting exercises indicated a discernible contribution of educational quality to per capita income and its growth rate.
Original language | English |
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Pages (from-to) | 361-389 |
Number of pages | 29 |
Journal | Journal of Economic Growth |
Volume | 29 |
Issue number | 3 |
DOIs | |
Publication status | Published - 2024 Sept |
Bibliographical note
Publisher Copyright:© The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2024. corrected publication 2024.
Keywords
- C8
- Development accounting
- Educational quality
- Human capital
- I25
- J24
- O15
- Return to education
- Test score
ASJC Scopus subject areas
- Economics and Econometrics