How much do Educational Outcomes Matter in OECD Countries?



Table 3: Economie institutions vs. educational outcomes in OECD-country long-run growth models

_______________OECD sample_________________

__________Full country sample__________

(ɪ)

(2)

(3)

(4)

(5)

Cognitive skills

1.527

1.388

1.265

1.266

(3.39)

(3.05)

(4-76)

(4.96)

Initial years of schooling

0.135

0.058

0.067

0.067

0.047

(2.77J

(7. W)

(7.73)

(1.02)

(77.74)

Initial GDP per capita

-0.381

-0.328

-0.322

-0.373

-0.304

(7.83)

(7.75)

(7.64)

(8.10)

(5.65)

Protection against expropriation

0.729

0.224

0.081

0.332

0.492

(3.95)

(1.06)

(0.36)

(2.36)

(3.25)

Openness

0.750

0.485

0.645

(7.56)

(1-34)

(1.83)

OECD

2.589

(1.26)

OECD x Protection against expropriation

-0.372

(1.34)

No. of countries

24

24

23

48

48

F (Protection and Openness)

1.77

6.17

F (OECD and interaction)

2.76

R2 HJ.)____________________________

0.740

0.830

0.841

0.789

0.806

Notes'. Dependent variable: average annual growth rate in GDP per capita, 1960-2000. Regressions include a constant, /-statistics in parentheses.

Source: Authors’ calculations based on data in Heston, Summers, and Aten (2002), Barro and Lee (2010), Hanushek and Woessmann (2009), Acemoglu, Johnson, and
Robinson (2001), and an updated version of Sachs and Warner (1995).

Table 4: Regulation of product and labor markets vs. educational outcomes in OECD-country long-run growth models

Product market regulation (PMR)                       Employment protection regulation (EPR)

Product
market
regulation
(ɪ)

Admini-
strative
regulation
(2)

Domestic
economic
. regulation
(3)

State
control

(4)

Barriers to
entrepre-
neurship
(5)

Barriers to
trade and
investment
(6)

EP
version 1

(J)

EP
version 2

(8)

Dismissal
regular
contracts
(9)

Regulation Regulation

temporary
contracts

(ɪθ)

collective
dismissal
(ɪɪ)

Cognitive skills

1.843

1.897

1.840

1.843

1.859

1.864

1.827

1.788

1.899

1.788

1.913

(3.67)

(5.92)

(3.60)

(3.66)

(3.75)

(3.67)

(3.41)

(3.06)

(3.39)

(3.00)

(5.95)

Initial years of schooling

0.026

0.015

0.036

0.033

0.025

0.047

0.027

0.025

0.034

0.036

0.071

(9.47)

(0.23)

(0.60)

(9.55)

(0.40)

(9.75)

(9.47)

(0.37)

(0.48)

(0.58)

(1.21)

Initial GDP per capita

-0.309

-0.310

-0.309

-0.311

-0.308

-0.303

-0.310

-0.307

-0.308

-0.307

-0.324

(8.43)

(8.69)

(8.27)

(8.30)

(8.52)

(8.36)

(8.09)

(9.25)

(7.89)

(8.22)

(8.52)

Product market

-0.157

-0.178

-0.080

-0.084

-0.157

0.004

regulation

(0.68)

(I-06)

(9.55)

(0.67)

(0.76)

(0.02)

Employment protection

-0.081

-0.109

-0.051

-0.047

0.139

legislation

(0.62)

(0.63)

(0.34)

(0.38)

(1.42)

No. of countries

24

24

24

24

24

24

23

23

23

23

23

R2 (adj.)__________________

0.824

0.829

0.822

0.824

0.825

0.819

0.822

0.822

0.819

0.821

0.836

Notes: Dependent variable: average annual growth rate in GDP per capita, 1960-2000. Sample: OECD countries. Regressions include a constant, /-statistics in
parentheses.

Source: Authors’ calculations based on data in Heston, Summers, and Aten (2002), Hanushek and Woessmann (2009), Barro and Lee (2010), Venn (2009), and Wolfl,
Wanner, Kozluk, and Nicoletti (2009).



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