The Improved Econometric Model of Education Contributions to Economic Growth

摘要

The econometrics models of education contributions to economic growth,which is based on the Cobb-Douglas production function and its modified forms,are used wildly in educational economics research.In this article,we pointed out that two factors should be taken into consideration of the classic model:quality and diversity of the education.We inducted new variables to deal with the quality of the education.Postgraduate education and further education were added into the classic model in order to handle the diversity of the education.