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Hanushek, Eric A., and
Ludger Woessmann. 2008. "The Role of Cognitive Skills in Economic Development."
,
46(3): 607-68.
Show Article Details
DOI: 10.1257/jel.46.3.607
Abstract:The role of improved schooling, a central part of most development strategies, has
become controversial because expansion of school attainment has not guaranteed
improved economic conditions. This paper reviews the role of cognitive skills in promoting
economic well-being, with a particular focus on the role of school quality
and quantity. It concludes that there is strong evidence that the cognitive skills of the
population—rather than mere school attainment—are powerfully related to individual
earnings, to the distribution of income, and to economic growth. New empirical
results show the importance of both minimal and high level skills, the complementarity
of skills and the quality of economic institutions, and the robustness of
the relationship between skills and growth. International comparisons incorporating
expanded data on cognitive skills reveal much larger skill deficits in developing countries
than generally derived from just school enrollment and attainment. The magnitude
of change needed makes clear that closing the economic gap with developed
countries will require major structural changes in schooling institutions.
Authors:
Hanushek, Eric A. (CESifo)
Woessmann, Ludger (Ifo Institute, U Munich and CESifo)
JEL Classifications:
I21: Analysis of Education
J24: Human Capital; Skills; Occupational Choice; Labor Productivity
J31: Wage Level and Structure; Wage Differentials
O47: Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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