The role of educational quality and quantity in the process of economic development

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• 作者：Amparo Castelló ; -Climent^a ; ^{amparo.castello@uv.es} ; Ana Hidalgo-Cabrillana^b ; ^{ana.hidalgo@uam.es}
• 关键词：I21 ; O11 ; O15 ; O4
• 刊名：Economics of Education Review
• 出版年：2012
• 期刊代码：10_02727757
• 类别：eco
• 出版时间：August, 2012
• 卷：31
• 期：4
• 页码：391-409
• 文件大小：648 K

摘要

We develop a theory of human capital investment to study the effects of school quality on student choices of education, and to understand its effect on economic growth. In a dynamic general equilibrium closed economy, primary education is mandatory but there is an opportunity to continue to secondary education and beyond. High-quality education increases the returns to schooling, and hence the incentives to accumulate human capital. This is caused by two different channels: higher quality makes education accessible to more people (extensive margin), and once individuals decide to participate in higher education, higher-quality increases the investment made per individual (intensive margin). Furthermore, educational quality determines human capital composition and growth. Cross-country data evidence shows that the proposed channels are quantitatively important and that the effect of the quality and quantity of education on growth depends on the stage of development.