The Economics of Education: Investment in Human Capital and Economic Growth
DOI:
https://doi.org/10.36676/jrps.v15.i2.07Keywords:
Economics of education, Human capitalAbstract
A well-educated populace is a productive and prosperous one, and education is the bedrock of human development. the complex interplay between education, the development of human capital, and economic expansion, with the overarching goal of shedding light on the many moving parts and far-reaching effects of education investment as a motor of economic development. Recognized as a critical factor in a nation's economic competitiveness and resilience, human capital is commonly described as the knowledge, skills, and competences gained via education and training. The need of a well-educated and competent labour force is paramount in this age of fast technological development and worldwide interconnection.
References
Becker, G. S. (1964). Human capital: A theoretical and empirical analysis, with special reference to education. University of Chicago Press.
Hanushek, E. A., & Woessmann, L. (2015). The knowledge capital of nations: Education and the economics of growth. MIT Press. DOI: https://doi.org/10.7551/mitpress/9780262029179.001.0001
Psacharopoulos, G., & Patrinos, H. A. (2018). Returns to investment in education: A decennial review of the global literature. Education Economics, 26(5), 445-458. DOI: https://doi.org/10.1080/09645292.2018.1484426
Heckman, J. J., & Kautz, T. (2013). Fostering and measuring skills: Interventions that improve character and cognition. National Bureau of Economic Research. DOI: https://doi.org/10.3386/w19656
Mincer, J. (1974). Schooling, Experience, and Earnings. Columbia University Press.
Card, D., & Krueger, A. B. (1992). Does school quality matter? Returns to education and the characteristics of public schools in the United States. Journal of Political Economy, 100(1), 1-40. DOI: https://doi.org/10.1086/261805
World Bank. (2018). World Development Report 2018: Learning to Realize Education's Promise. World Bank Group.
Hoxby, C. M. (2000). The effects of class size on student achievement: New evidence from population variation. The Quarterly Journal of Economics, 115(4), 1239-1285. DOI: https://doi.org/10.1162/003355300555060
Acemoglu, D., & Autor, D. H. (2011). Skills, tasks and technologies: Implications for employment and earnings. Handbook of Labor Economics, 4, 1043-1171. DOI: https://doi.org/10.1016/S0169-7218(11)02410-5
Goldin, C., & Katz, L. F. (2008). The race between education and technology. Belknap Press.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 International Journal for Research Publication and Seminar
This work is licensed under a Creative Commons Attribution 4.0 International License.
Re-users must give appropriate credit, provide a link to the license, and indicate if changes were made. You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use. This license allows for redistribution, commercial and non-commercial, as long as the original work is properly credited.
