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

Education and Development

Measuring the Social Benefits

Paperback Published: 1st March 2002
ISBN: 9780199250721
Number Of Pages: 316

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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, longevity, net population growth rates, reduction of poverty, inequality in income distribution, crime, drug use, and the environment.Externalities including indirect and delayed effects are identified and measured for these market and non-market returns. The total impacts of education policy changes on endogenous development are then estimated for several East Asian, Latin American, African, and industrialized nations 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 endogenous 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

`Review from previous edition a valuable, ambitious volume.' R.M. Whaples, CHOICE, Nov.00, Vol.38, No.3. |d 13/02/2001

Part I: Introduction; 1. Measuring the Returns to Education; Part II: Economic Growth; 2. Human Capital, Endogenous Growth Models, and Economic Development; 3. Education and Growth in East Asia; 4. Education and Growth in Latin America; 5. Africa's Population Growth and Dilution of Human Capital (with Ali Arifa); Part III: Measuring the Non-Monetary Benefits; 6. Health and Net Population Growth; 7. Democracy, Human Rights, and Political Stability; 8. Poverty and Inequality; 9. The Environment; 10. Education and Crime; Part IV: The Complete Model: Education and Economic Development; 11. Tracing the Impacts of Education on Development: A Summary; 12. Measuring the Total Social Benefits of Education: The Complete Model; 13. Separating and Valuing the Direct and Indirect Effects of Education; 14. Summary of Conclusions: Measuring the Social Benefits, Convergence, and Policy Dialogue

ISBN: 9780199250721
ISBN-10: 0199250723
Series: Measuring the Social Benefits
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 316
Published: 1st March 2002
Publisher: Oxford University Press
Country of Publication: GB
Dimensions (cm): 22.86 x 15.24  x 1.91
Weight (kg): 0.44