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Three levels of education and the economic growth

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  • Aleš Kocourek
  • Iva Nedomlelová

Abstract

The aim of this article is to solve the question how the three main stages of education contribute to the labour productivity growth in selected 125 countries in the period 1999–2014. The model is based on the neoclassical production function enhanced with human capital. The authors draw on the Penn World Tables 9.0 and UNESCO databases. The key benefit of this article is that human capital is characterized according to the returns to education from average number of years of formal schooling at the primary, secondary and tertiary level. Based on the panel data analysis, the contributions of capital and of the three levels of education to the growth of labour productivity are estimated. At the same time, the model allows to estimate the contribution of total factor productivity. The results of the analysis show that tertiary education has the strongest impact on labour productivity across the considered economies. At the same time, the breakdown of aggregate human capital by level of education leads to better clarification of the effects of human capital and physical capital on labour productivity. The conclusions also indicate a tendency towards rising returns to scale induced by the secondary and tertiary education.

Suggested Citation

  • Aleš Kocourek & Iva Nedomlelová, 2018. "Three levels of education and the economic growth," Applied Economics, Taylor & Francis Journals, vol. 50(19), pages 2103-2116, April.
    • Handle: RePEc:taf:applec:v:50:y:2018:i:19:p:2103-2116
    DOI: 10.1080/00036846.2017.1388910
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    Citations

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    Cited by:

    1. Luxolo Malangeni & Andrew Phiri, 2018. "Education and Economic Growth in Post-apartheid South Africa: An Autoregressive Distributive Lag Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 8(2), pages 101-107.
    2. Atakan Durmaz & Hakan Pabuçcu, 2018. "The effect of government educational expenditure on labor productivity in Turkish manufacturing sector," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 36(2), pages 519-535.
    3. Viktorija Bobinaite & Inga Konstantinaviciute & Akvile Cibinskiene & Daiva Dumciuviene, 2022. "Labour Productivity as a Factor of Tangible Investment in Companies Producing Wind Energy Components and Its Impacts: Case of Lithuania," Energies, MDPI, vol. 15(13), pages 1-29, July.
    4. Grzegorz Przekota & Andrzej Janowski & Anna Szczepanska-Przekota, 2023. "Causality in the Relationship between Economic Growth and Compensation," Sustainability, MDPI, vol. 15(23), pages 1-16, November.
    5. Yanliang Yu & Shahzad Alvi & Saira Tufail & Shahzada M. Naeem Nawaz & Michael Yao-Ping Peng & Nauman Ahmad, 2022. "Investigating the role of health, education, energy and pollution for explaining total factor productivity in emerging economies," Palgrave Communications, Palgrave Macmillan, vol. 9(1), pages 1-7, December.
    6. Yao, Yao & Ivanovski, Kris & Inekwe, John & Smyth, Russell, 2020. "Human capital and CO2 emissions in the long run," Energy Economics, Elsevier, vol. 91(C).

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