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Educational quality and disparities in income and growth across countries

Author

Listed:
  • Hanol Lee

    (Southwestern University of Finance and Economics)

  • Jong-Wha Lee

    (Korea University)

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.

Suggested Citation

  • Hanol Lee & Jong-Wha Lee, 2024. "Educational quality and disparities in income and growth across countries," Journal of Economic Growth, Springer, vol. 29(3), pages 361-389, September.
    • Handle: RePEc:kap:jecgro:v:29:y:2024:i:3:d:10.1007_s10887-023-09239-3
    DOI: 10.1007/s10887-023-09239-3
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    More about this item

    Keywords

    Educational quality; Human capital; Test score; Development accounting; Return to education;
    All these keywords.

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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