Smart Money

Smart Money
Author: William Schweke
Publisher:
Total Pages: 88
Release: 2004
Genre: Business & Economics
ISBN:

The Knowledge Capital of Nations

The Knowledge Capital of Nations
Author: Eric A. Hanushek
Publisher: MIT Press
Total Pages: 275
Release: 2023-08-15
Genre: Business & Economics
ISBN: 026254895X

A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.

Higher Education and Economic Growth

Higher Education and Economic Growth
Author: William E. Becker Jr.
Publisher: Springer Science & Business Media
Total Pages: 188
Release: 2013-03-09
Genre: Business & Economics
ISBN: 9401581673

After decades of effortless growth and prosperity, America's postsecondary institutions of education have come under increasing financial stress and waning public support. In part, this stress reflects a slowdown in the real rate of national economic growth and the loss of federal and state revenues for education generally. It also reflects a trend of state legislatures simply giving higher education an ever lower ranking on the list of funding priorities. Postsecondary educational institutions in the United States will continue to face increasing financial stress and waning public support as critics question the contribution of higher education to economic growth, which historically has been a major rationale for funding. Unless the trends in education financing can be changed, higher edu cation can be expected to stagnate. What, if anything, can be done? As a starting point, advocates of higher education need to more fully recognize the important ways in which higher education influences technological change and also is influenced by that change. As demonstrated by the chapters in this book, higher education is not a neutral or passive player in economic growth. This volume addresses topics related to the role of postsecondary education in national economic development within the United States.

The Political Economy of Education

The Political Economy of Education
Author: Mark Gradstein
Publisher: MIT Press
Total Pages: 192
Release: 2004-10-22
Genre: Business & Economics
ISBN: 9780262262880

A theoretical framework for analyzing the complex relationship of education, growth, and income distribution. The dominant role played by the state in the financing, regulation, and provision of primary and secondary education reflects the widely-held belief that education is necessary for personal and societal well-being. The economic organization of education depends on political as well as market mechanisms to resolve issues that arise because of contrasting views on such matters as income inequality, social mobility, and diversity. This book provides the theoretical framework necessary for understanding the political economy of education—the complex relationship of education, economic growth, and income distribution—and for formulating effective policies to improve the financing and provision of education. The relatively simple models developed illustrate the use of analytical tools for understanding central policy issues. After offering a historical overview of the development of public education and a review of current econometric evidence on education, growth, and income distribution, the authors lay the theoretical groundwork for the main body of analysis. First they develop a basic static model of how political decisions determine education spending; then they extend this model dynamically. Applying this framework to a comparison of education financing under different regimes, the authors explore fiscal decentralization; individual choice between public and private schooling, including the use of education vouchers to combine public financing of education with private provision; and the social dimension of education—its role in state-building, the traditional "melting pot" that promotes cohesion in a culturally diverse society.

Anticipating and Preparing for Emerging Skills and Jobs

Anticipating and Preparing for Emerging Skills and Jobs
Author: Brajesh Panth
Publisher: Springer Nature
Total Pages: 351
Release: 2020-11-02
Genre: Education
ISBN: 9811570183

This open access book analyzes the main drivers that are influencing the dramatic evolution of work in Asia and the Pacific and identifies the implications for education and training in the region. It also assesses how education and training philosophies, curricula, and pedagogy can be reshaped to produce workers with the skills required to meet the emerging demands of the Fourth Industrial Revolution. The book’s 40 articles cover a wide range of topics and reflect the diverse perspectives of the eminent policy makers, practitioners, and researchers who authored them. To maximize its potential impact, this Springer-Asian Development Bank co-publication has been made available as open access.

Education, Skills, and Technical Change

Education, Skills, and Technical Change
Author: Charles R. Hulten
Publisher: University of Chicago Press
Total Pages: 528
Release: 2019-01-11
Genre: Business & Economics
ISBN: 022656794X

Over the past few decades, US business and industry have been transformed by the advances and redundancies produced by the knowledge economy. The workplace has changed, and much of the work differs from that performed by previous generations. Can human capital accumulation in the United States keep pace with the evolving demands placed on it, and how can the workforce of tomorrow acquire the skills and competencies that are most in demand? Education, Skills, and Technical Change explores various facets of these questions and provides an overview of educational attainment in the United States and the channels through which labor force skills and education affect GDP growth. Contributors to this volume focus on a range of educational and training institutions and bring new data to bear on how we understand the role of college and vocational education and the size and nature of the skills gap. This work links a range of research areas—such as growth accounting, skill development, higher education, and immigration—and also examines how well students are being prepared for the current and future world of work.

Universities and Colleges as Economic Drivers

Universities and Colleges as Economic Drivers
Author: Jason E. Lane
Publisher: State University of New York Press
Total Pages: 348
Release: 2012-11-20
Genre: Education
ISBN: 1438445024

Local, state, and national economies are facing unprecedented levels of international competition. The current fiscal crisis has hampered the ability of many governments in the developed world to directly facilitate economic growth. At the same time, many governments in the developing world are investing significant new resources into local infrastructure and industry development initiatives. At the heart of the current economic transformation lie our colleges and universities. Through their roles in education, innovation, knowledge transfer, and community engagement, these institutions are working toward spurring economic growth and prosperity. This book brings together leading scholars from a variety of disciplines to assess how universities and colleges exert impact on economic growth. The contributors consider various methodologies, metrics, and data sources that may be used to gauge the performance of diverse higher education institutions in improving economic outcomes in the United States and around the world. Also presented are new typologies of economic development activities and related state policies that are designed to improve understanding of such initiatives and generate new energy and focus for an international community of scholars and practitioners working to formulate new models for how public universities and colleges may lead economic development in their states and communities while still performing their traditional educational functions. Universities and Colleges as Economic Drivers is meant to cultivate greater understanding among elected officials, business representatives, policymakers, and other concerned parties about the central roles universities and colleges play in national, state, and local economies.

World Development Report 2018

World Development Report 2018
Author: World Bank Group
Publisher: World Bank Publications
Total Pages: 482
Release: 2017-10-16
Genre: Education
ISBN: 1464810982

Every year, the World Bank’s World Development Report (WDR) features a topic of central importance to global development. The 2018 WDR—LEARNING to Realize Education’s Promise—is the first ever devoted entirely to education. And the time is right: education has long been critical to human welfare, but it is even more so in a time of rapid economic and social change. The best way to equip children and youth for the future is to make their learning the center of all efforts to promote education. The 2018 WDR explores four main themes: First, education’s promise: education is a powerful instrument for eradicating poverty and promoting shared prosperity, but fulfilling its potential requires better policies—both within and outside the education system. Second, the need to shine a light on learning: despite gains in access to education, recent learning assessments reveal that many young people around the world, especially those who are poor or marginalized, are leaving school unequipped with even the foundational skills they need for life. At the same time, internationally comparable learning assessments show that skills in many middle-income countries lag far behind what those countries aspire to. And too often these shortcomings are hidden—so as a first step to tackling this learning crisis, it is essential to shine a light on it by assessing student learning better. Third, how to make schools work for all learners: research on areas such as brain science, pedagogical innovations, and school management has identified interventions that promote learning by ensuring that learners are prepared, teachers are both skilled and motivated, and other inputs support the teacher-learner relationship. Fourth, how to make systems work for learning: achieving learning throughout an education system requires more than just scaling up effective interventions. Countries must also overcome technical and political barriers by deploying salient metrics for mobilizing actors and tracking progress, building coalitions for learning, and taking an adaptive approach to reform.

Human Capital and Economic Growth

Human Capital and Economic Growth
Author: Alberto Bucci
Publisher: Springer Nature
Total Pages: 384
Release: 2019-11-26
Genre: Business & Economics
ISBN: 3030215997

This edited collection explores the links between human capital (both in the form of health and in the form of education), demographic change, and economic growth. Using empirical as well as theoretical perspectives, the authors investigate several important issues in the context of human capital, namely population ageing, inequality, public policy, and long-term economic development. Ultimately, they demonstrate that the accumulation of human capital is of crucial importance to long-run economic growth.

The Economics of Education

The Economics of Education
Author: Steve Bradley
Publisher: Academic Press
Total Pages: 602
Release: 2020-01-20
Genre: Education
ISBN: 0128153911

The Economics of Education: A Comprehensive Overview, Second Edition, offers a comprehensive and current overview of the field of that is broadly accessible economists, researchers and students. This new edition revises the original 50 authoritative articles and adds Developed (US and European) and Developing Country perspectives, reflecting the differences in institutional structures that help to shape teacher labor markets and the effect of competition on student outcomes.