Education and Development: Measuring the Social Benefits by Walter W. McmahonEducation and Development: Measuring the Social Benefits by Walter W. Mcmahon

Education and Development: Measuring the Social Benefits

byWalter W. Mcmahon

Paperback | May 1, 2002

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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 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.
Walter W. McMahon is Professor of Economics, and Professor of Education Emeritus, University of Illinois at Urbana-Champaign. He has published widely in journals on the economics of education, growth, and related topics and has worked in many developing countries including writing major project designs and conducting education sector ...
Title:Education and Development: Measuring the Social BenefitsFormat:PaperbackDimensions:314 pages, 9.21 × 6.14 × 0.71 inPublished:May 1, 2002Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199250723

ISBN - 13:9780199250721

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Table of Contents

Part I: Introduction1. Measuring the Returns to EducationPart II: Economic Growth2. Human Capital, Endogenous Growth Models, and Economic Development3. Education and Growth in East Asia4. Education and Growth in Latin America5. Africa's Population Growth and Dilution of Human Capital (with Ali Arifa)Part III: Measuring the Non-Monetary Benefits6. Health and Net Population Growth7. Democracy, Human Rights, and Political Stability8. Poverty and Inequality9. The Environment10. Education and CrimePart IV: The Complete Model: Education and Economic Development11. Tracing the Impacts of Education on Development: A Summary12. Measuring the Total Social Benefits of Education: The Complete Model13. Separating and Valuing the Direct and Indirect Effects of Education14. Summary of Conclusions: Measuring the Social Benefits, Convergence, and Policy Dialogue

Editorial Reviews

`Review from previous editionThis book is an intelligent exposition on the relationship between education and development. ...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.'Geeta Gandhi Kingdon, THES, June 1, 2001