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Book What Is the Relationship Between Education and Productivity to Influence Development

Download or read book What Is the Relationship Between Education and Productivity to Influence Development written by Johnny Lok and published by Createspace Independent Publishing Platform. This book was released on 2017-01-08 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to explain to let economic students to believe that productivity and education has close relationship to influence developing Asia countries' economic growth nowadays? Moreover, I shall indicate how growth theory can support it has relationship between education and productivity. Also, I shall indicate how the two different channels through which human capital can affect long run economic growth by education provision to developing Asia countries. Then, I shall explain how measure of the relationship between education and productivity and economic growth can be quantified clearing to developing Asia of developing countries. Next, I shall explain how to measure of the growth rate of productivity to the average level or growth rate of education within any developing Asia countries. Finally, I shall indicate how education can affect economic growth in developing Asia countries for long term. This book is suitable to any economy students, teachers or any readers who enjoy to learn theories applied people to read. Johnny, C H LOK Commonwealth Open University Business Psychology [email protected]

Book What Is the Relationship Between Education and Productivity to Influence Developing Asia s Economic Growth

Download or read book What Is the Relationship Between Education and Productivity to Influence Developing Asia s Economic Growth written by Johnny C. H. Lok and published by Createspace Independent Publishing Platform. This book was released on 2017-01-08 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book aims to explain to let economic students to believe that productivity and education has close relationship to influence developing Asia countries' economic growth nowadays? Moreover, I shall indicate how growth theory can support it has relationship between education and productivity. Also, I shall indicate how the two different channels through which human capital can affect long run economic growth by education provision to developing Asia countries. Then, I shall explain how measure of the relationship between education and productivity and economic growth can be quantified clearing to developing Asia of developing countries. Next, I shall explain how to measure of the growth rate of productivity to the average level or growth rate of education within any developing Asia countries. Finally, I shall indicate how education can affect economic growth in developing Asia countries for long term. This book is suitable to any economy students, teachers or any readers who enjoy to learn theories applied people to read. Johnny, C H LOK Commonwealth Open University Business Psychology [email protected]

Book What Is the Relationship Between Education and Productivity

Download or read book What Is the Relationship Between Education and Productivity written by Johnny Ch LOK and published by . This book was released on 2017-05-10 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: ⦁ This book aims to explain to let economic students to believe that productivity and education has close relationship to influence developing Asia countries' economic growth nowadays? Moreover, I shall indicate how growth theory can support it has relationship between education and productivity. Also, I shall indicate how the two different channels through which human capital can affect long run economic growth by education provision to developing Asia countries. Then, I shall explain how measure of the relationship between education and productivity and economic growth can be quantified clearing to developing Asia of developing countries. Next, I shall explain how to measure of the growth rate of productivity to the average level or growth rate of education within any developing Asia countries. Finally, I shall indicate how education can affect economic growth in developing Asia countries for long term. This book is suitable to any economy students, teachers or any readers who enjoy to learn theories applied people to read.

Book Making Money Matter

    Book Details:
  • Author : National Research Council
  • Publisher : National Academies Press
  • Release : 1999-11-30
  • ISBN : 0309172888
  • Pages : 368 pages

Download or read book Making Money Matter written by National Research Council and published by National Academies Press. This book was released on 1999-11-30 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States annually spends over $300 billion on public elementary and secondary education. As the nation enters the 21st century, it faces a major challenge: how best to tie this financial investment to the goal of high levels of achievement for all students. In addition, policymakers want assurance that education dollars are being raised and used in the most efficient and effective possible ways. The book covers such topics as: Legal and legislative efforts to reduce spending and achievement gaps. The shift from "equity" to "adequacy" as a new standard for determining fairness in education spending. The debate and the evidence over the productivity of American schools. Strategies for using school finance in support of broader reforms aimed at raising student achievement. This book contains a comprehensive review of the theory and practice of financing public schools by federal, state, and local governments in the United States. It distills the best available knowledge about the fairness and productivity of expenditures on education and assesses options for changing the finance system.

Book How Online Education Influences Developing Countries Economy Growth

Download or read book How Online Education Influences Developing Countries Economy Growth written by Johnny Ch Lok and published by . This book was released on 2020-03-16 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: ⦁How measure of the relationship between education and productivity and economic growth can be quantified clearing to developing Asia of developing countries. The GDP per unit of labor input should be related to the share of labor of a particular type (graduates or workers at different qualification levels) weighted by the average human capital of the type of worker (captured by the relative wages of different types of labor input). It seems measure of the relationship between education and productivity and economic growth can be quantified clearing to developing Asia any countries.In past, the EUKLEMS project indicated key findings of 15 developed countries for one economic report: GDP per employment hour increased from 1992 year to 2005 year, the highest annual average percentage change was in Finland (2.7%), Japan (2.5%) and the UK (2.4%). These countries had the lowest level of GDP per employment hour in 1982 year, when the period considered the Netherlands and the USA had the highest GDP employment hour. Also it indicated the share of employment with tertiary education also increased from 1982 year to 2005 year in all countries. The highest annual average percentage change was in Australia (5%) followed by the UK (4.9%). Both of these countries had relatively low shares of employment with tertiary education in 1982 year at 6%, compared with 22.1% in the USA and 18.7% in Finland. The large increased closed the gap, but the USA and Finland still had higher employment shares with tertiary education than Australia and the UK in 2005 year. The economic report also indicatd that a 1% increase in the share of the workforce with a university degree raises the level of long run productivity by 0.2%-0.5%. So, it implied the education and productivity has close relationship to developed countries also. However, the economic benefits, both to the individual and to the wider economy of a university degree with clearly depend on the quality and skills to developing and developed countries both.So, improvement in educational outcomes have been widely recognised as essential in enhancing growth in both developed and developing countries. In fact, education is acquire by individuals provide social returns at the macroeconomic level and addition indirect benefits to economic growth.⦁How to measure of the growth rate of productivity to the average level or growth rate of education within any developing Asia countries.Firstly, I suppose it has relationship between human capital and education has close relationship to cause economic growth to any developed or developing countries both nowadays. Because if human capital and education factor has close relationship to influence any country's economic growth, then it is possible to cause productivity and economic growth has close relationship. However, some economists indicate the evidence on the relationship between human capital and economic growth and who conclude that there is strong evidence that human capital increases productivity. Suggesting that education really is productivity-enhancing, rather than education is used by individuals to signal their ability to potential employers.The primary measures are used to capture the average level of human capital per worker include: I.The average number of years of schooling of the workforce or population, which assumes a linear relationship with human capital.II.The share of the workforce population with specific educational qualifications.III.School enrollment rates, specially as a starting value. This flow into education is often used as stock of qualifications and is available for developed Asia countries, e.g. Hong Kong, Japan and developing Asia countries, e.g. China, Korea both.

Book Future Education and Productivity Relationship

Download or read book Future Education and Productivity Relationship written by Johnny Ch LOK and published by . This book was released on 2018-12-19 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book research two questions:(1)Does it have relationship between education and future student productivity?(2)Does school teacher individual teaching productivity raising represent student individual learning quality raising ?This booklet goals to provide an explanation for to enable financial scholars to think that productiveness and schooling has shut dating to persuade constructing Asia nations' monetary progress these days? in addition, I shall point out how development concept can help it has courting among schooling and productiveness. Additionally, I shall point out how the 2 assorted channels in which human capital can have an effect on future.I write this book aims to let university educators or students or decision makers have fresh ideas to solve any challenges in educational aspects and give my recommendations how to attract more student to choose the school to study . I shall explain why information technology (IT) will be the best educational method to solve any future student learning emotion and teacher teaching challeges. This book is suitable to any students or educators who have interest to predict what will be future educational unpredictable challenges as well as to make evaluation to judge whether IT technology will be easy to be used to teachers to teach as well as to students to adapt to learn easily . Anymore, students are as university customers. In consumer behavior theory, I shall indicate how ( information technology) IT educational method can be applied to solve this challenges, such as educational subject development challenge, developing countries educational challenges, choosing university to study challenge, student university life challenge, education and economy challenge influences developing country student psychology and raise teaching quality challenge in my book. Finally, I believe that these challenges will encounter to global education industry in our future. I aim to let educators to recognize IT will be the most suitable educational method to attempt to solve these educational challenges and I also expect any readers can learn new ideas to attempt to solve these challenges.

Book How to Raise Educational Productivity to Teachers

Download or read book How to Raise Educational Productivity to Teachers written by Johnny Ch Lok and published by Independently Published. This book was released on 2019-01-28 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do I research the relationship between education and productivity can influence the economic growth to Asia developing countries? Although, human capital includes education, health and aspects of social capital. The main focus of the present study is on education. The analysis stresses the destination between the quantity of education measured by years of attainment at various levels and the quality measured by scores on internationally comparable examinations, e.g. China education and Korea education compare. In fact, the global long term economic growth was the central macroeconomic problem and it was fortunately accompanied in the late 1980 year by importance advances in the theory of economic growth. This period featured the development of global growth models, in which the long term rate of growth was determined within the model.A key feature of these models is a theory of technological progress, viewed as a process whereby purposeful research and application lead over time to new and better products and methods of production by developed economic globalization. The recent growth models are useful for understanding why advanced economies and the world is as whole, can continue to grow in the long run despite the workings of diminishing returns in the accumulation of physical and human capital. These countries include, e.g. America, England which are observed to be rich and high tend also to be those that have high long run target levels of per high capita output in a setting that includes human capital and technological change. So education is also essential to raise labor knowledge and technological level to assist developed countries, e.g. USA, UK, to raise productivity to achieve economic growth. So, the developed or developing countries' both government policies and education institutions need to concern their national population to arrange the different primary, secondary and tertiary educational policy to educate to develop whose students to develop different professional and knowledgeable and skillful abilities to already develop their careers in different nature of jobs to enter their societies to work nowadays. However, if we were the identify how education contributes to cause economic growth in any Asia developing countries. We need to compare states that have a similar distance to the frontier and yet choose difference pattern of investment in education. For example, building a new school for a research university, the process is when a vacancy arises on an committee that controls expenditure. Because governments and universities need to concern what the labour market demand, so the research university can decide prefer to choose what kinds of subjects to be taught to its potential students, e.g. medical or architect or law or engineering or business or social science, computer science etc. subjects among of them subjects, which subjects will be chosen to be taught to its potential students preferably. So, the job demand market research is very important because it can help the research university to choose what the preferable subjects will be demanded to supply to the labor market increasing in any one of Asia developing countries within future three or five years. Theories of economic growth have emphasized the role of human capital which may affect economic growth. Human capital is as an extra input in the aggregate production function, where the output of the means economy is a direct function of factor inputs: physical capital, labor and human capital. However, technologies can raise innovate capacity of economy through developing new ideas. So, education was seemed that it could be raised graduated students' abilities to raise productivity to any one of Asia developing countries by high technological skill.Long run economic growth challenge influences to education provision to developing Asia countries

Book Asia Education and Productivity Relationship

Download or read book Asia Education and Productivity Relationship written by Johnny Ch Lok and published by Createspace Independent Publishing Platform. This book was released on 2018-01-05 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Researching the relationship between education and productivity how to influence economic growth in developing Asia countries nowadays, this topic is concerned how to use labor economy method to analyze how to influence education to cause what the macro and micro economic effects are in the developing Asia countries. I shall indicate some developing countries in Asia, e.g. Philippines, Korea, China etc. countries. What the link between education and productivity is? What does the model that characterize key featured of growth processes of Asia countries are? For this topic, I shall suppose human capital is come from such as primary and secondary and tertiary education factor which has a major close relationship to cause the developing Asia countries' economic growth nowadays. My objectives of this research are to explore the relationship between graduates and economic growth, assess what should be the key variable ( or variables) of interest and quantify the relationship to developing Asia of some countries.

Book The Scientific Basis of Education Productivity

Download or read book The Scientific Basis of Education Productivity written by Rena F. Subotnik and published by IAP. This book was released on 2006-02-01 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is not primarily concerned with what students should learn, nor even how they should learn. Rather it concerns how we can discover the best means and conditions for teaching them in school, at home, and in society. Expressed more explicitly, we seek to find out how students can learn efficiently or productively as much as possible within a given amount of time and resources. As in agriculture, medicine, public health, and modern industries, we can turn to rigorous science as one of the best sources for informing ourselves. The intended audiences are not only scholars in a variety of academic disciplines but also research consumers, including educators, policymakers, parents, and citizens who seek principles to critically separate valid from invalid claims for the efficacy and efficiency of education products, personnel, and policies. Initial versions of the chapters were discussed at a national invitational conference sponsored by the Laboratory for Student Success (LSS), the mid-Atlantic regional educational laboratory, at Temple University Center for Research in Human Development and Education. LSS operates under a contract with the U.S. Department of Education’s Institute of Education Sciences.

Book How Education Impacts Productivity

Download or read book How Education Impacts Productivity written by Johnny Ch Lok and published by Independently Published. This book was released on 2018-08-29 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Preface This book research two questions: (1) Does it have relationship between education and future student productivity? (2) Does school teacher individual teaching productivity raising represent student individual learning quality raising ? This booklet goals to provide an explanation for to enable financial scholars to think that productiveness and schooling has shut dating to persuade constructing Asia nations' monetary progress these days? in addition, I shall point out how development concept can help it has courting among schooling and productiveness. Additionally, I shall point out how the 2 assorted channels in which human capital can have an effect on future. I write this book aims to let university educators or students or decision makers have fresh ideas to solve any challenges in educational aspects and give my recommendations how to attract more student to choose the school to study . I shall explain why information technology (IT) will be the best educational method to solve any future student learning emotion and teacher teaching challeges. This book is suitable to any students or educators who have interest to predict what will be future educational unpredictable challenges as well as to make evaluation to judge whether IT technology will be easy to be used to teachers to teach as well as to students to adapt to learn easily . Anymore, students are as university customers. In consumer behavior theory, I shall indicate how ( information technology) IT educational method can be applied to solve this challenges, such as educational subject development challenge, developing countries educational challenges, choosing university to study challenge, student university life challenge, education and economy challenge influences developing country student psychology and raise teaching quality challenge in my book. Finally, I believe that these challenges will encounter to global education industry in our future. I aim to let educators to recognize IT will be the most suitable educational method to attempt to solve these educational challenges and I also expect any readers can learn new ideas to attempt to solve these challenges.

Book Measuring Capital in the New Economy

Download or read book Measuring Capital in the New Economy written by Carol Corrado and published by University of Chicago Press. This book was released on 2009-02-15 with total page 602 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the accelerated technological advances of the past two decades continue to reshape the United States' economy, intangible assets and high-technology investments are taking larger roles. These developments have raised a number of concerns, such as: how do we measure intangible assets? Are we accurately appraising newer, high-technology capital? The answers to these questions have broad implications for the assessment of the economy's growth over the long term, for the pace of technological advancement in the economy, and for estimates of the nation's wealth. In Measuring Capital in the New Economy, Carol Corrado, John Haltiwanger, Daniel Sichel, and a host of distinguished collaborators offer new approaches for measuring capital in an economy that is increasingly dominated by high-technology capital and intangible assets. As the contributors show, high-tech capital and intangible assets affect the economy in ways that are notoriously difficult to appraise. In this detailed and thorough analysis of the problem and its solutions, the contributors study the nature of these relationships and provide guidance as to what factors should be included in calculations of different types of capital for economists, policymakers, and the financial and accounting communities alike.

Book Transforming the Workforce for Children Birth Through Age 8

Download or read book Transforming the Workforce for Children Birth Through Age 8 written by National Research Council and published by National Academies Press. This book was released on 2015-07-23 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: Children are already learning at birth, and they develop and learn at a rapid pace in their early years. This provides a critical foundation for lifelong progress, and the adults who provide for the care and the education of young children bear a great responsibility for their health, development, and learning. Despite the fact that they share the same objective - to nurture young children and secure their future success - the various practitioners who contribute to the care and the education of children from birth through age 8 are not acknowledged as a workforce unified by the common knowledge and competencies needed to do their jobs well. Transforming the Workforce for Children Birth Through Age 8 explores the science of child development, particularly looking at implications for the professionals who work with children. This report examines the current capacities and practices of the workforce, the settings in which they work, the policies and infrastructure that set qualifications and provide professional learning, and the government agencies and other funders who support and oversee these systems. This book then makes recommendations to improve the quality of professional practice and the practice environment for care and education professionals. These detailed recommendations create a blueprint for action that builds on a unifying foundation of child development and early learning, shared knowledge and competencies for care and education professionals, and principles for effective professional learning. Young children thrive and learn best when they have secure, positive relationships with adults who are knowledgeable about how to support their development and learning and are responsive to their individual progress. Transforming the Workforce for Children Birth Through Age 8 offers guidance on system changes to improve the quality of professional practice, specific actions to improve professional learning systems and workforce development, and research to continue to build the knowledge base in ways that will directly advance and inform future actions. The recommendations of this book provide an opportunity to improve the quality of the care and the education that children receive, and ultimately improve outcomes for children.

Book The Relationship Between Economic Development And

Download or read book The Relationship Between Economic Development And written by Johnny Ch Lok and published by . This book was released on 2019-09-25 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: ⦁What external factors impact of education quality on development goals to students.I feel how to distribution of personal incomes in society which is strongly related to the amount of education people have had. Because, generally speaking more schooling means higher lifetime incomes for students working life. These outcomes are long term . It is not people's income when in their first job, but their income other their working life. Thus, any noticeable effects of the current quality of schooling on the distribution of skills and income will become apparent some years in the future, when those now in school become a significant part of the labor force. I also feel future general improvements in productivity throughout the economy are likely to lead to larger returns to higher skill levels.Obviously, students who do better in school, as evidenced by either examination grades or scores on standardized achievement tests, tend to go further in school or university. By the same way, the intangible costs of improvements in school quality if reflected in increased attainment by learners, are less than who appear, perhaps substantially because of the resulting reductions in rates of learning repetition if the education quality is improved to be taught to every student to reduce their time to be spent to study the same course more than one year repetition. Thus, higher student achievement keeps students in school longer, which leads, rates at all levels of schooling . According in countries where schools are dysfunctional and grade repetition is high. Some improvements in quality may be largely self-financing by reducing the average time completers spend in school. Thus, how to raise the education quality will be important issue to raise very student's learning ability and to shorten every one learning time to complete whose courses in school. Clearly, differences in education quality can affect human behavior in ways that facilitate the achievement of a wide range of human goals. It brings this question: How to measure education quality? I feel that tests of cognitive achievement are in complete proxies for the measurement of the quality of education. They tell nothing about values, capacities or other non-cognitive skills that are important aims of education. Moreover, if the extent of value added by schooling, even in the cognitive domain, is to be known, such tests need to be supplemented by measures of the background characteristics that learners bring to formal education. However, I feel that it is possible to compare learning achievement scores among the countries within each study, but nor among the studies themselves that the method is good measurement of the education quality. When we know how to compare learning achievement scores among the countries within each study to measure this method is good measurement of education quality. Then, it brings this question: What factors influence education quality? It feel that some aspects of how the school environments appear to have improved over the period, it can influence the school education quality to be provided to its students. For example, education facilities, which can influence the students feel learning easily or difficult. If the school can provide comfortable, kindly, friendly sympathy learning environment and enough education facilities to provide to its students to study. Then, I believe it will provide good quality of education to let its students to learn.

Book Education and Productivity in Developing Countries

Download or read book Education and Productivity in Developing Countries written by Lawrence J. Lau and published by World Bank Publications. This book was released on 1991 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Education is an important determinant of aggregate real output and productivity, but its effect varies considerably across countries and regions- ranging from negative to more than 5 percent a year in this sample.

Book The Knowledge Capital of Nations

Download or read book The Knowledge Capital of Nations written by Eric A. Hanushek and published by MIT Press. This book was released on 2023-08-15 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.

Book World Development Report 2018

Download or read book World Development Report 2018 written by World Bank Group and published by World Bank Publications. This book was released on 2017-10-16 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every year, the World Bank’s World Development Report (WDR) features a topic of central importance to global development. The 2018 WDR—LEARNING to Realize Education’s Promise—is the first ever devoted entirely to education. And the time is right: education has long been critical to human welfare, but it is even more so in a time of rapid economic and social change. The best way to equip children and youth for the future is to make their learning the center of all efforts to promote education. The 2018 WDR explores four main themes: First, education’s promise: education is a powerful instrument for eradicating poverty and promoting shared prosperity, but fulfilling its potential requires better policies—both within and outside the education system. Second, the need to shine a light on learning: despite gains in access to education, recent learning assessments reveal that many young people around the world, especially those who are poor or marginalized, are leaving school unequipped with even the foundational skills they need for life. At the same time, internationally comparable learning assessments show that skills in many middle-income countries lag far behind what those countries aspire to. And too often these shortcomings are hidden—so as a first step to tackling this learning crisis, it is essential to shine a light on it by assessing student learning better. Third, how to make schools work for all learners: research on areas such as brain science, pedagogical innovations, and school management has identified interventions that promote learning by ensuring that learners are prepared, teachers are both skilled and motivated, and other inputs support the teacher-learner relationship. Fourth, how to make systems work for learning: achieving learning throughout an education system requires more than just scaling up effective interventions. Countries must also overcome technical and political barriers by deploying salient metrics for mobilizing actors and tracking progress, building coalitions for learning, and taking an adaptive approach to reform.

Book Three Essays on Education and Its Impact on Economic Growth and Development

Download or read book Three Essays on Education and Its Impact on Economic Growth and Development written by Juan-Pedro Garces and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation we explore different aspects of the relationship between education (as one of the main components of human capital) and economic productivity. In the first chapter, we measure the factors that contribute to the quality of education, following Hanushek and Woessmann (2007). An empirical research is carried out for the case of Chile, a country which implemented a very unique educational system in the mid-1980s, with a strong participation of the private sector in the provision of educational services. Amongst other factors, we study the influence of the public/private divide, the socio-economic level of the students and the pupil/teacher ratio. The quality of education is measured by the performance of students in standardised national tests administered to all schools in Chile. The second chapter explores the effects of population density on productivity and the synergetic impact of educational attainment and population density on the causation of technological progress and economic growth, following Becker et al. (1999). We devise a simple theoretical model to explain the channels through which education and density affect productivity, and we test it for a wide sample of developed and developing countries. Our empirical results confirm the positive impact of both population density—broadly defined—and the interaction of education and density on economic productivity. Finally, the third chapter of the dissertation examines the ongoing controversy about the roles of education and institutions as main contributing factors of economic growth. To try to establish a balanced view, we first assume as a premise that good institutional governance is indeed an important factor in promoting economic growth, as has been shown repeatedly in the literature. But at the same time, we investigate the causes of good institutional governance, and find out that educational attainment is one of the main factors contributing to most of the aspects of good governance.