한국의 경제성장을 위한 교육의 역할과 향후 과제

초록

Education is an essential factor for economic growth. Education directly affects economic growth through human capital, and indirectly affects economic growth through technology, institution, equity, and government efficiency. Because education promotes economic growth, investment in education can be seen as necessary condition for economic growth. We attempt to measure investment in education by residual of school enrollment rates which cannot explained by (log of) GDP per capita and its squared term. From 1960 through 1980, actual primary school enrollment rates were larger than the predicted ones by around 10%, which implies 0.2%p increases in economic growth rate due to investment in primary education at that period. From 1970 through 2000, actual secondary school enrollment rates were larger than the predicted ones by around 10-20%, which implies 0.45%p increase in economic growth rate. Currently, the entrance rate to tertiary education is surprisingly high at 80% and predicted one is only 35%. Probably, Korea over-invest in tertiary education. Korea successfully accomplish orderly expansion of education from primary, to secondary, and to tertiary education. We now face a more difficult challenge of improving the quality of education and making more aligned to demander.

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