What level of education matters most for growth?: Evidence from Portugal
Economics of Education Review Volume 28, Number 1 ISSN 0272-7757 Publisher: Elsevier Ltd
We decompose annual average years of schooling series for Portugal into different schooling levels series. By estimating a number of vector autoregressions, we provide measures of aggregate and disaggregate economic growth impacts of different education levels. Increasing education at all levels except tertiary have a positive and significant effect on growth. Investment in education does not significantly crowd out physical investment and average years of schooling semi-elasticities have comparable magnitude across primary and secondary levels.
Pereira, J. & St. Aubyn, M. What level of education matters most for growth?: Evidence from Portugal. Economics of Education Review, 28(1), 67-73. Elsevier Ltd.