Education and Economic Growth: an OECD Panel Study

• 발행기관: 한국자료분석학회
• 저자명: Jae-Woo Lee Sung-A Moon
• 간행물 정보: 『Journal of The Korean Data Analysis Society (JKDAS)』Vol.11 No.3, 1135~1142쪽, 전체 8쪽
• 주제분류: 자연과학 > 통계학
• 파일형태: PDF
• 발행일자: 2009.06.30

영문 초록

In this study we empirically test the hypothesis that education matters on economic growth. Based on theories of human capital development, we postulate that education leads to economic growth. Education expenditures and enrollment rates in primary, secondary, and tertiary educations are especially chosen as independent variables to test if they have an impact on economic growth, or per capita GDP in our regression. To consider the heteroskedasticity of error terms, we turn to GLS regression to see the effects of education factors on economic growth. In addition, we divide the OECD panel data into two subsets; Group A as a relatively high income country group and Group B as a low income group. Overall, education variables turn out to be significant in explaining per capita GDP growth. In group A, or relatively wealthy group, enrollment in tertiary education sector tend to be significantly important, reflecting that educational effects on economic growth tend to be even stronger in highly knowledge-driven countries in OECD.

목차

1. Education and Economic Growth: a Traditional Belief and Its Tests

2. Estimation Model, Panel Data, and Testing

3. Conclusions

Reference

키워드

Education Human Capital Growth Panel Data GLS Estimation