Educational Attainment And Economic Growth Across Countries: Do TIMSS & PISA Test Scores Explain Growth?

Type Working Paper
Title Educational Attainment And Economic Growth Across Countries: Do TIMSS & PISA Test Scores Explain Growth?
Author(s)
Publication (Day/Month/Year) 2008
URL http://webapps.roanoke.edu/businessweb/SEINFORMS 2008 - Proceedings/proc/p080523009.pdf
Abstract
In recent decades, individuals and nations around the world have become more and more concerned with education. Parents want their children to go to school and be educated to better their lives. However, on a larger scale, education is believed to have important influences on the economic growth of countries because it directly affects human capital levels. This paper investigates the ways in which education may determine economic growth, following on a famous study, titled Natural Resource Abundance and Economic Growth, by Sachs and Warner in the 1990s. This study finds that cross-country economic growth rates are directly related to educational attainments, measured by international standardized test scores, including Trends in International Mathematics and Science Study (TIMSS) and Program for International Student Assessment (PISA). The paper also demonstrates that these results are robust to several widely known specifications in the literature.

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