The quality vs. the quantity of schooling: What drives economic growth?
Economics of Education Review Volume 30, Number 4, ISSN 0272-7757 Publisher: Elsevier Ltd
This paper challenges contention that the quality and not the quantity of schooling determines a nation's rate of economic growth. I first show that their statistical analysis is flawed. I then show that when a 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's average schooling attainment, cumulative investment in schooling, and average tests scores indicates that average schooling attainment implicitly measures the quality as well as the quantity of schooling.
Breton, T.R. (2011). The quality vs. the quantity of schooling: What drives economic growth?. Economics of Education Review, 30(4), 765-773. Elsevier Ltd.