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The Impact of College Education in the Korean Economic Growth

경제성장에 있어서 대학교육의 영향

Kim, Seon Jae
김선재

  • Received : 2019.01.17
  • Accepted : 2019.02.07
  • Published : 2019.02.28

Abstract

The purpose of this study is to reanalyze the impact of college education in the Korean economic growth during the period 1971-2017. The study estimates the impacts of monthly average income per worker without college education with respects to the ratio of workers with college education to worker without college education, capital per worker without college education, and the number of patients per worker with college education. The results showed that the effect of the ratio of workers who had college education was 0.433 at 5% of significant level. In addition, it was estimated that the effect of the capital for each worker who didn't have college education was 0.45646 at 1% of significant level. These findings are similar to the results in the previous study of Kim and Lim. Finally, the number of patents per worker who had college education was estimated. Unfortunately, the coefficients on these were not statistically significant except for one period. Therefore, it is concluded that there is a positive spillover effect from the college education in the Korean economic growth.

Keywords

Economic Growth;College Education;Spillover Effect;Economic Return

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Acknowledgement

Supported by : 한국연구재단