The Role of Education in Economic Growth

28 Pages Posted: 8 Dec 2009

Date Written: December 7, 2009

Abstract

This study examines the effect of the quantity and quality of education on economic growth. Using a number of proxy variables for the quantity and quality of education in a cross section of low and medium income countries, this study finds that education quantity when measured by enrollment ratios, unambiguously influences economic growth. The effect of government expenditure on economic growth is largely indirect through its impact on improved education quality.

Keywords: Economic Growth, Education Quantity, Enrolment, Government Spending on Education, Education Quality, Cross Country

JEL Classification: : O11, O15

Suggested Citation

Cooray, Arusha V., The Role of Education in Economic Growth (December 7, 2009). Available at SSRN: https://ssrn.com/abstract=1520160 or http://dx.doi.org/10.2139/ssrn.1520160

Arusha V. Cooray (Contact Author)

Embassy of Sri Lanka, Oslo ( email )

Norway

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