Details
- Identification
- ISBN: 978-92-76-09220-9, DOI: 10.2766/211582, Catalogue number: NC-01-19-647-EN-N
- Publication date
- 8 November 2019
- Authors
- Directorate-General for Education, Youth, Sport and Culture | European Expert Network on Economics of Education (EENEE)
- Geographical scope
- European Union
- Thematic areas covered
- Investment in education, economic impact of education
Description
Few people doubt that education is valuable for individuals and that a well-educated society benefits each country. But many do not fully understand the magnitude of impact of high-quality education on economic wellbeing.
This report provides an analysis of the economic benefits of educational improvement for each of the EU countries. The analysis focuses on the relationship between educational achievement (as measured by scores on the Programme for International Student Assessment (PISA)) and the long-run growth of nations.
Prior research shows that test scores serve as a good proxy for the skills of a nation’s workforce and that three-quarters of the variation in long-run growth rates across countries can be attributed to these quantitative measures of educational outcomes.
Authors
Eric A. Hanushek and Ludger Woessmann
Cite as
European Commission: Directorate-General for Education, Youth, Sport and Culture, European Expert Network on Economics of Education (EENEE), Hanushek, E. A. and Woessmann, L., The economic benefits of improving educational achievement in the European Union – An update and extension, Publications Office, 2019, https://data.europa.eu/doi/10.2766/211582
