Economic Growth and Cycles: Cross-country Models of Education, Industry and Fertility and International Comparisons
Author(s)
Guisan, M. Carmen; Aguayo, Eva; Exposito, Pilar
Abstract
The authors aim to highlight the importance of education on sustained development, as well the main causes of disequilibria that affect the evolution of supply and demand and that provoke many of the most remarkable declines in the rates of growth of real Gross Domestic Product (GDP) in less developed countries. They include some international econometric models that on one hand confirm the great importance education has on development, already commented upon in previous studies by several authors, and that also offer new perspectives on the main interrelationships that explain the impacts of education on the growth of real GDP per inhabitant (GDPH or PH). The authors also analyse, from a worldwide view, the evolution of real Gross Domestic Product, Population and GDP per inhabitant and the main differences in the levels of development are explained having into account the results of several cross-country models. The main conclusions highlight the necessity of new international policies for improving the educative level of populations in less developed countries.
