Schooling and the Quality of Human Capital |
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Author:
| Wößmann, Ludger |
Series title: | Kieler Studien - Kiel Studies |
ISBN: | 978-3-662-42586-2 |
Publication Date: | Sep 2014 |
Publisher: | Springer
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Book Format: | Paperback |
List Price: | AUD $177.95 |
Book Description:
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This book presents a thorough economic analysis of both the determinants and the consequences of international differences in schooling quality. It is shown that cross-country differences in quality-adjusted human capital can account for a substantial part of the international variation in economic development. However, large increases in per-student spending over recent decades were not matched by increases in student achievement in most countries. In a simple principal-agent model,...
More DescriptionThis book presents a thorough economic analysis of both the determinants and the consequences of international differences in schooling quality. It is shown that cross-country differences in quality-adjusted human capital can account for a substantial part of the international variation in economic development. However, large increases in per-student spending over recent decades were not matched by increases in student achievement in most countries. In a simple principal-agent model, the book stresses the importance of institutional features of the schooling system such as central examinations, school autonomy, and private-sector competition. Microeconometric estimations based on data for more than a quarter of a million students reveal that international differences in these institutions, rather than differences in resources, can explain the large international differences in schooling quality.