An Empirical Investigation of the effect of education on economic growth

Economics and Finance

Bryant, Isaiah

Apostolova, Maria (Mentor)

English

This paper replicates the results of Mankiw, Romer, and Weil (1992) regarding the contribution of human capital to economic growth. It also adds variables relating to a country’s openness to the outside world and the size of a country’s government to understand how these factors impact economic growth. This paper successfully replicates the conclusion that measures of human capital do have a significant positive impact on economic growth, and that the convergence effects exists. Possible extensions include improving the measurement of the investment rate and the population change.