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Education and Development : Measuring the Social Benefits - Walter W. McMahon

Education and Development

Measuring the Social Benefits

Hardcover Published: 1st March 1999
ISBN: 9780198292319
Number Of Pages: 320

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This book develops a new approach to measuring the total returns to human resource development through investment in education. Drawing on microanalytic foundations, it uses regional and worldwide data to estimate the net marginal contributions of education and new knowledge both to economic growth and to wider effects on democratization, human rights, political stability, health, net population growth rates, reduction of poverty, inequality in income distribution, crime, drug use, and the environment. The total impact of education policy changes on endogenous development is then estimated using an interactive model. This new approach is important to industrialized and developing countries alike. The diffusion of knowledge and the adaptation of new techniques has been identified as crucial to the growth process in the new endogenmous growth models, and is of increasing strategic importance in current knowledge-based globalizing economies. Similarly, the non-monetary returns from education are important in improving human welfare. Measurement of these non-market returns is a crucial but much neglected subject. It has proved frustrating, and existing microanalytic measures have proved piecemeal. The new approach developed here offers some comprehensive estimates and simulation techniques for finding more cost-effective policies, and also suggests new hypotheses for further microanalytic testing.

Industry Reviews

`This book is an intelligent exposition on the relationship between education and development. Given that no structural approach has yet been employed that measures systematically the indirect benefits of education on growth, the suggestion of such a quantitative approach is a valuable contribution to economics of education ... the book is an approachable and interesting analysis of the determinants of development, with a range of pertinent cross-country regressions. It will be of interest to education, labour and growth economists as well as to policymakers and development organisations.' Geeta Gandhi Kingdon, Times Higher Education Supplement, 1 June 2001 `a valuable, ambitious volume.' R.M. Whaples, CHOICE, Nov.00, Vol.38, No.3.

Part I: Introduction Measuring the Returns to Education Part II: Economic Growth Human Capital, Endogenous Growth Models, and Economic Development Education and Growth in East Asia Education and Growth in Latin America Africa's Population Growth and Dilution of Human Capital (with Ali Arifa) Part III: Measuring the Non-Monetary Benefits Health and Net Population Growth Democracy, Human Rights, and Political Stability Poverty and Inequality The Environment Education and Crime Part IV: The Complete Model: Education and Economic Development Tracing the Impacts of Education on Development: A Summary Measuring the Total Social Benefits of Education: The Complete Model Separating and Valuing the Direct and Indirect Effects of Education Summary of Conclusions: Measuring the Social Benefits, Convergence, and Policy Dialogue Bibliography

ISBN: 9780198292319
ISBN-10: 0198292317
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 320
Published: 1st March 1999
Country of Publication: GB
Dimensions (cm): 24.26 x 16.23  x 2.26
Weight (kg): 0.58