Quality Education is essential for Economic Growth
Bold statement? Well, no, not really, how about ordinary and ignored statement. At least in most parts of Africa?
Okay, so this is one of the topics I’m most passionate about for reasons which are somewhat obvious, but which our leaders in Africa are yet to realise, that is if they haven’t realised already.
You can’t have development, especially sustainable development if your educational system is crap. Period. Soon enough something will have to give. Also, when building a house, you don’t start with the roof, before the foundation has been laid, conventionally anyway (and wisely I’d think) you don’t do that. The foundation must be laid first, and the structure built, then you can start fumbling around with the roof…unless ofcourse yours is a futuristic / modern design that defies convention? 🙂
Anyhow, I have compiled a number of articles that support the view that a high quality education is essential for sustainable economic growth.
While there may be numerous assumptions to make before such a hypothesis is held true, generally it holds true. Specifically, while there may be a need for defining precisely what is meant by “quality education” (which may differ depending on who you speak to, and which may limit scope or leave out an education system that is better than others, but couldn’t be described as ‘quality’) there is quite a bit of substance to the above view.
Further, there are exceptions, for example why certain countries with high mineral resources experience fast economic growth rates – a feature that occurs when the leaders in such countries invest the proceeds from those resources responsibly and strategically – even in the absence of a quality education system.
Thankfully, a few clever people have helpfully explained why education is important for economic growth:
This article reviews the role of education in promoting economic growth, with a particular focus on the role of educational quality. It concludes that there is strong evidence that the cognitive skills of the population – rather than mere school attainment – are powerfully related to long-run economic growth. The relationship between skills and growth proves extremely robust in empirical applications. The effect of skills is complementary to the quality of economic institutions. Growth simulations reveal that the long-run rewards to educational quality are large but also require patience.
2. Education and Economic Growth: From the 19th to the 21st Century, Riel Miller (www.rielmiller.com), commissioned by CISCO
3. Education and economic growth -Schooling quantity and educational quality effect on GDP level and economic growth, Liang Zhai, Wenjun Zhao, Bachelor Thesis in Economics, Mälardalen University.