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Education Production Functions: Developed Countries Evidence

Author/s: 
Eric A. Hanushek
Published Date: 
2010
Editors: 
In Dominic J. Brewer and Patrick J. McEwan (Ed.)
Publication: 
Economics of Education (Amsterdam: Elsevier, 2010)
Pages: 
pp. 132-136

Economists and other social scientists have accumulated convincing evidence that education makes individuals more productive and thus increases their incomes. Education also provides nonpecuniary benefits, such as improved health and social integration. Much of the gap in living standards between developed and developing countries may be due to wide gaps in education. Thus, efforts to raise enrolment rates and to increase student learning could greatly improve living standards in developing countries.
[reprinted in Eva Baker, Barry McGaw and Penelope Peterson (ed.), International Encyclopedia of Education (Amsterdam: Elsevier, 2010), pp. 407-411].