“Once the knowledge capital of the countries (measured by international test scores) is considered, these regions fit in with growth patterns elsewhere in the world, as seen in Figure 1. This figure plots how long run growth rates in real GDP per capita from 1960-2000 relate to knowledge capital (after allowing for difference in initial income in 1960).”
“One thing that we have also learned in looking at economic growth, and that is implicitly shown in Figure 1, is that “quality education” is defined through world economic competition. While individual countries may have views on what constitutes quality, what counts for economic outcomes is the knowledge and skills of the population as proxied by consistent international test scores such as PISA or TIMSS.”
