This paper challenges Hanushek and Woessmann’s [2008] contention that the quality and not the quantity of schooling … nation’s average test scores and average schooling attainment are included in a national income model, both measures explain … income differences, but schooling attainment has greater statistical significance. The high correlation between a nation …

additional year of average adult schooling attainment raised GDP/adult directly and indirectly by 20 percent, and weekly hours … worked had an output elasticity of 0.5. The marginal product of schooling was double the marginal product of physical capital. …

find that each additional year of average schooling attainment during this period raised GDP/adult in Japan by 20 percent … investment from physical capital to post-secondary schooling would be a cost-effective strategy to raise growth rates. …

This article presents revised estimates of the external rates of return on investment in schooling provided in … “Schooling and National Income: How Large Are the Externalities?” The analysis is based on data for the same set of countries …

This paper explains why different studies present widely-varying estimates of the effect of increased schooling on … average schooling attainment raises national income directly by about 10% and indirectly by about 19%. The increases in … national income are larger than the aggregate effect of higher workers’ salaries, because schooling has external effects on …

above 600 in 45 countries. I find that the share above 400 and average schooling attainment cause national income, while the … share above 600 and the share with post-secondary schooling do not. Implicitly the best long-term development strategy for … poor countries is to increase the share of students who complete primary and secondary schooling. …

decline as human capital increases up to $125,000/adult. Schooling attainment is a better proxy for the human capital stock …´s stock of human capital, calculated from cumulative investment in schooling, is the schooling measure most correlated with …

two external effects of human capital created from schooling on national income. If this model is valid, its estimates of … investment in schooling in workers´ earnings´ studies. This paper uses a new set of data for the net human capital stock to show …

This article presents revised estimates of the external rates of return on investment in schooling provided in … Schooling and National Income: How Large Are the Externalities?" The analysis is based on data for the same set of countries …

The economics literature identifies three effects of schooling on national income; the direct effect on the earnings of … the workers who receive the schooling and the external effects on workers´ earnings and on physical capital due to … schooling´s spillover effect on the productivity of these other factors of production. This paper reviews the estimates of the …