Human capital and economic growth: Investigation of the feasibility of using TIMSS scores as proxy variables for human capital

• Main Authors: Ssu-Ching Huang, 黃思婧
• Other Authors: Gee San
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/rz3bkp

碩士 === 國立中央大學 === 產業經濟研究所 === 104 === The purpose of this study is to investigate the feasibility of using Trends in International Mathematics and Science Study (TIMSS) scores as proxy variables for human capital. Running linear regression with TIMSS 1999 eight grade students’ data conducted by International Association for the Evaluation of Educational Achievement (IEA), this study analyzes how scores of the cohort affect economic performance after 10-15 years when they become main labor and compared the goodness-of-fit of models with other feasible proxy variables. The results of this study shows that science and math scores have positive effects on GDP per capita after 10-15 years in 38 countries participating TIMSS 1999. As dividing the sample into developed and developing countries, the positive effects on GDP per capita are much more statistically significant in developing countries than in developed countries. It reveals the importance of improving quality of education in developing countries. Besides, we add TIMSS scores to the model which uses data about government expenditure per secondary student as a percentage of GDP per capita. In this model, TIMSS scores not only have significantly positive effects on GDP per capita but also enhance the effects of variables related to quantity of education. The complementarity exists between proxy variables related to quantity and quality of education.