The High Cost of Low Educational Performance

Pages: 52 Language: English  zrodlo

The High Cost of Low Educational Performance - The Long-Run Economic Impact of Improving PISA Outcomes While governments frequently commit to improving the quality of education, it often slips down the policy agenda. Because investing in education only pays off in the future, it is possible to underestimate the value and the importance of improvements.

Table of contents

• The effect of education on economic growth
  • Empirical growth analyses using school attainment data
  • Empirical growth analyses considering cognitive skills
  • Measuring cognitive skills
  • Basic facts of cognitive skills and economic growth
  • Evidence on causality
• The economic costs of low educational achievement
  • Simulation approach
  • Scenario I: Increase average performance by 25 PISA points
  • Scenario II: Bring each country to the average level of Finland
  • Scenario III: Bring everyone up to a minimum skill level of 400 PISA points
• Annex A: Deriving a combined historical measure of cognitive skills
• Annex B: Underlying cross-country growth regressions
• Annex C: Projection of the economic value of education reforms