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The Knowledge Capital of NationsEducation and the Economics of Growth$
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Eric A. Hanushek and Ludger Woessmann

Print publication date: 2015

Print ISBN-13: 9780262029179

Published to MIT Press Scholarship Online: September 2015

DOI: 10.7551/mitpress/9780262029179.001.0001

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Developing Countries

Developing Countries

(p.109) 5 Developing Countries
The Knowledge Capital of Nations

Eric A. Hanushek

Ludger Woessmann

The MIT Press

The policy consensus for increasing school attainment across the world, summarized by “education for all”, has been eroding as improvements in schooling have not consistently led to better economic performance of countries. The prior analysis, however, strongly points to a focus on cognitive skills as the key issue, and this chapter highlights the fact that expanding school attainment has not systematically led to improved knowledge capital. Based on an overview of general facts about the knowledge capital in developing countries, this chapter turns to general cases that have been treated as puzzles, albeit for opposite reasons: Latin America with its inexplicable slow growth and East Asia with its stunning rapid growth. The focused analysis shows that there is nothing special in terms of growth and development about the East Asian experience or about the Latin American experience once knowledge capital is taken into consideration.

Keywords:   Developing countries, Latin America, East Asia, Growth puzzles, Knowledge capital, Cognitive skills, Economic development

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