9780199250721

Education and Development Measuring the Social Benefits

by
  • ISBN13:

    9780199250721

  • ISBN10:

    0199250723

  • Format: Paperback
  • Copyright: 2002-03-28
  • Publisher: Oxford University Press

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Summary

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 economicgrowth 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 aninteractive 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 currentknowledge-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 offerssome comprehensive estimates and simulation techniques for finding more cost-effective policies, and also suggests new hypotheses for further microanalytic testing.

Author Biography


Walter W. McMahon has been Professor of Economics with a joint appointment as Professor of Education at the University of Illinois at Urbana-Champaign since 1972, specializing in the economics of education and human capital, and in macroeconomic theory and analysis. He has worked in many developing countries, including acting as Chief Economist on the 25 Year Plan for Education in Indonesia, and conducting education sector assessments for the governments of Nepal, Pakistan, Indonesia, and Kuwait.

Table of Contents

PART I. INTRODUCTION
Measuring the Returns to Education
3(16)
Overview
3(1)
Recent Advances in Measuring Education Outcomes
4(1)
Endogenous Development Defined
5(2)
Education and Development: Other Recent Work
7(2)
The Conceptual Framework
9(1)
The Framework for Endogenous Development
10(4)
Uses for the Conceptual Framework and the Results
14(5)
PART II. ECONOMIC GROWTH
Human Capital, Endogenous Growth Models, and Economic Development
19(15)
Human Capital in Economic Growth Models
20(1)
Endogenous Growth and Related Research
21(1)
The Production Function
22(4)
Investment and Saving Rates
26(5)
Population Growth Rates
31(2)
Endogenous Growth and Endogenous Development
33(1)
Education and Growth in East Asia
34(18)
The Reduced-Form Production Function
35(1)
Investment and Enrolment by Levels: Definitions and Data Sources
36(2)
Empirical Results: Econometric Properties
38(4)
Impacts of Education on Growth
42(2)
Determinants of Investment Rates: Feedback Effects
44(3)
Feedback Effects and Simultaneity
47(1)
Other Factors, Including Controls
48(1)
Conclusions
49(3)
Education and Growth in Latin America
52(16)
The Reduced-Form Production Function
53(2)
Properties of the Growth Estimates for LAC
55(3)
Empirical Determinants of Growth in Latin America
58(4)
Investment in Physical Capital and Total Saving
62(3)
International Trade Impacts
65(1)
Conclusion: Tracing the Impacts of Education on Growth in Latin America
66(2)
Africa's Population Growth and Dilution of Human Capital (with Ali Arifa)
68(13)
Current and Simulated Future Per Capita Economic Growth
69(2)
Education and Per Capita Growth in Africa
71(4)
Investment in Physical Capital for Faster Growth
75(1)
Population Growth, Capital Dilution, and Slower Growth
75(1)
Conclusions and Development Strategies
76(5)
PART III. MEASURING THE NON-MONETARY BENEFITS
Health and Net Population Growth
81(11)
The Conceptual Framework: An Overview
82(1)
Health Effects: Infant Mortality
83(2)
Health Effects: Life Expectancy
85(1)
Population Effects via Fertility Rates
86(2)
Net Population Growth Rates
88(2)
Alternative Direct Estimates
90(1)
Conclusions
91(1)
Democracy Human Rights, and Political Stability
92(19)
The Conceptual Framework
94(2)
Determinants of Democracy
96(5)
Human Rights
101(4)
Political Stability
105(4)
Conclusions
109(2)
Poverty and Inequality
111(14)
Poverty Reduction: The Conceptual Framework
112(3)
Rural Poverty
115(2)
Urban Poverty
117(2)
Income Inequality
119(2)
Empirical Determinants of Inequality
121(2)
Distributive Justice
123(1)
Conclusions
124(1)
The Environment
125(16)
The Conceptual Framework
126(2)
Deforestation and the Destruction of Wildlife
128(5)
Water Pollution
133(3)
Air Pollution
136(3)
Conclusions
139(2)
Education and Crime
141(14)
Background and Structural Rationale
142(1)
The Determinants of Violent Crime
143(4)
The Determinants of Property Crime
147(4)
Summary and Conclusions
151(4)
PART IV. THE COMPLETE MODEL: EDUCATION AND ECONOMIC DEVELOPMENT
Tracing The Impacts of Education on Development: A Summary
155(24)
Measuring Market-Based Returns to Education in Growth Models
155(3)
Effects of Education on Economic Growth by Region
158(4)
The Education Sector in the Complete Model
162(5)
Investment in Education, Access, and Education Reforms
167(3)
Summary of the Non-market Marginal Products of Education by Sector
170(7)
Conclusions
177(2)
Measuring the Total Social Benefits of Education: The Complete Model
179(48)
Endogenous Development: Continuing Current Policies
180(5)
Education Policy Changes and Measurement of Net Effects
185(1)
Latin America
186(7)
East and South Asia
193(15)
Africa
208(6)
OECD Member Countries
214(13)
Separating and Valuing the Direct and Indirect Effects of Education
227(34)
The Conceptual Framework for Separation of Direct and Indirect Effects
227(4)
Empirical Measures of Direct and Indirect Effects on Growth by Region
231(11)
Direct and Indirect Effects on Non-market Outcomes
242(4)
Valuing the Impacts of Education
246(2)
Social Rates of Return
248(4)
Cost-Based Valuation of Non-monetary Benefits
252(1)
Optimal Efficiency in Expenditure/Taxation Levels
253(1)
Valuing Distributional Effects via a Bergson Welfare Function
254(2)
Valuation of Outcomes by Political Decision Processes
256(3)
Conclusions
259(2)
Summary of Conclusions: Measuring the Social Benefits, Convergence, and Policy Dialogue
261(9)
Endogenous Development in Retrospect
261(2)
Conditional Convergence?
263(2)
Measurement of the Social Benefits of Education
265(1)
The Cost-Effectiveness of Non-market Returns
266(1)
Valuation of Non-market Outcomes
266(1)
Measurement of Externalities and Distributional Effects
267(1)
Policy Dialogue as a Development Strategy
268(2)
Conclusion 270(3)
Bibliography 273(12)
Index 285

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