EDUCATION QUALITY AND ECONOMIC GROWTH Education Quality and Economic Growth Education Quality and Economic Growth Eric A. Hanushek Ludger Wößmann THE WORLD BANK Washington‚ DC © 2007 The International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org E-mail: feedback@worldbank.org All rights reserved 1 2 3 4 5 10 09 08 07 This volume is a product of the staff of
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The People’s Republic of China was established in 1949 and has always aimed at achieving high rates of economic growth as well as transforming their economy into an industrial economy. In the last few decades‚ the world’s most populous nation has liberalised its economy and gone from producing low-quality and simple exports to sophisticated high-technology goods while attracting nearly $500 Billion in foreign direct investment (FDI). The Chinese government also implemented many strategies to do this
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Law 2.Price-wage flexibility Say’s Law * Say’s Law is the foundation of classical economics. Assumption of full employment as a normal condition of a free market economy is justified by classical economists by a law known as ‘Say’s Law of Markets’. * It was the theory on the basis of which classical economists thought that general over-production and general unemployment are not possible.
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China’s Economic Growth and Development China is presently the world’s largest economy in relation to its population of 1.3 billion. The country is currently a socialist economy ruled by a Communist Government‚ with significant structural changes impacting its economy as a result of the high rate of growth over the past decades. Its economy is in the transition phase‚ moving from being a centrally planned economy to a system based more on the market. A socialist or market economy can be defined
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The Industrial Revolution paved the way for innovation today. It helped to shape the ideas of the modern world on how technologies have impacted society. Without most of these inventions‚ the world would not be the same. While the invention of the cotton gin and telephone were both immensely impactful‚ this one proved to be just a step ahead in the category of revolutionary. In 1793‚ the American inventor Eli Whitney invented the cotton gin. This was a machine that automated and sped up the process
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Resource Use Define the economic problem. Explain how individual consumers‚ business firms and the government are all faced with the economic problem. Identify the different economic factors that influence how each group seeks to address this problem. The economic problem occurs because of the fact that the supply of resources used to produce goods and services are limited or finite but there is an infinite amount of demands and wants of individuals. In other words‚ the economic problem is consequence
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National Honor Society First of all‚ it is a great honor to even be nominated for NHS. When I got the letter saying I was nominated‚ I felt a little relieved. I felt relieve because this is it. This is why I’ve worked so hard in school; this is why I spend countless hours doing homework. I realized that all of my hard work is finally paying off. I could help the NHS by dedicating my own time to participate in fundraisers‚ encouraging other students to do their best on their schoolwork‚ and try
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part of. I will continue to work to improve myself and I feel that I would be a great asset to the NHS. VI. PERSONAL STATEMENT – As briefly as possible‚ explain why you want to become a member of National Honor Society at SPASH. I wish to become a member of the National Honor Society because of the way it forms the leaders of our school. NHS promotes strong leadership‚ and community activism in young high school students. I believe I encompass the NHS values in my everyday life. NHS
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National honor society essay Scholarship‚ leadership‚ service‚ and character and all words that have a significant weight on me. These words are the foundation of everything I need in order to succeed in life. Scholarship leads to educational support‚ and‚ more importantly‚ a full ride to the best colleges possible. Leadership and character are quality traits that will eventually lead to getting people to trust you. Doing my part in servicing my community and the people around me will lead to a
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org/papers/w12597 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge‚ MA 02138 October 2006 We are extremely grateful to Tonja Bowen for extraordinary and tireless research assistance‚ to Gary Engelhardt and Anil Kumar for graciously providing us with tabulations from their HRS Defined Contribution Plan imputation algorithm‚ to Paul Bingley‚ Peter Diamond‚ Gary Engelhardt‚ Jon Gruber‚ Helena Stolyarova‚ and many seminar participants for helpful comments‚ and to the National Institute
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