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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Science Ltd
    Fiscal studies 26 (2005), S. 0 
    ISSN: 1475-5890
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We evaluate the effects of undergoing any early education (before the compulsory starting age of 5) and of pre-school on a cohort of British children born in 1958. In contrast to most available studies, we are able to assess whether any effects on cognition and socialisation are long-lasting, as well as to estimate their net impact on subsequent educational attainment and labour market performance.Controlling for a particularly rich set of child, parental, family and neighbourhood characteristics, we find some positive and long-lasting effects from early education. Specifically, pre-compulsory education (preschool or school entry prior to age 5) was found to yield large improvements in cognitive tests at age 7, which, though diminished in size, remained significant throughout the schooling years, up to age 16. By contrast, attendance of pre-school (nursery or playgroup) was found to yield a positive but short-lived impact on test scores. The effects on socialisation appear to be more mixed: we found some positive, though short-lasting, effects of pre-compulsory education on teachers' reports of social adjustment (only at age 7); on the other hand, we found some adverse behavioural effects according to parental reports at age 7 which persisted up to age 11.In adulthood, pre-compulsory education was found to increase the probabilities of obtaining qualifications and of being employed at age 33. For both pre-compulsory education and pre-school per se, we found evidence of a marginally significant 3–4 per cent wage gain at age 33.
    Type of Medium: Electronic Resource
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  • 2
    Electronic Resource
    Electronic Resource
    London, UK : The Institute for Fiscal Studies
    Fiscal studies 20 (1999), S. 0 
    ISSN: 1475-5890
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper provides a non-technical review of the evidence on the returns to education and training for the individual, the firm and the economy at large. It begins by reviewing the empirical work that has attempted to estimate the true causal effect of education and training on individual earnings, focusing on the recent literature that has attempted to control for potential biases in the estimated returns to education and training. It then moves on to review the literature that has looked at the returns from human capital investments to employers. Lack of suitable data and methodological difficulties have resulted in a paucity of studies that have carried out sound empirical work on this issue. In the final part of the review, we look at the work that has tried to assess the contribution of human capital to national economic growth at the macroeconomic level. This work has generally involved using either a ‘growth accounting’ theoretical framework or ‘new growth’ theories. Although the empirical macroeconomic evidence that accompanies this work does not generally allow one to distinguish between the two approaches, there is a substantial body of evidence on the contribution of education to economic growth.
    Type of Medium: Electronic Resource
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  • 3
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economic surveys 17 (2003), S. 0 
    ISSN: 1467-6419
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: We offer an extensive summary and a critical discussion of the empirical literature on the impact of human capital on macro-economic performance, with a particular focus on UK policy. We also highlight methodological issues and make recommendations for future research priorities.Taking the studies as a whole, the evidence that human capital increases productivity is compelling, though still largely divided on whether the stock of education affects the long-run level or growth rate of GDP. A one-year increase in average education is found to raise the level of output per capita by between three and six percent according to augmented neo-classical specifications, while leading to an over one percentage point faster growth according to estimates from the new-growth theories. Still, over the short-run planning horizon (four years) the empirical estimates of the change in GDP are of similar orders of magnitude in the two approaches. The impact of increases at different levels of education appear to depend on the level of a country's development, with tertiary education being the most important for growth in OECD countries. Education is found to yield additional indirect benefits to growth. More preliminary evidence seems to indicate that type, quality and efficiency of education matter for growth too.
    Type of Medium: Electronic Resource
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