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The Currency of Knowledge: Education and economic growth in Latin America

Deakin Papers on International Business Economics

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Title The Currency of Knowledge: Education and economic growth in Latin America
 
Creator Bosz, Andrew Thomas
Rufatt, Andrew Anthony
 
Description In the early 1960s, Latin America was on the brink of significant economic growth, withschool attainment and income levels well ahead of East Asia. However, by 2000, despitegreater financial and political efforts to develop their education system to the standard offully developed countries, Latin America had already been well surpassed by East Asia. Byconsidering the influence of education and human capital accumulation, this paperendeavours to rationalise the disparities between the economic failures of Latin America bycomparison to the economic prosperity of East Asia. Internationally standardised cognitivetesting consistently shows Latin America below East Asia, indicating a greater quality ofeducation in East Asia. Moreover, Latin America appears to experience some degree ofdifficulty in retaining its human capital due to ‘brain drain’. As such, whilst the LatinAmerican labour force continues to grow, the average level of education is deteriorating,which in turn adversely affects economic prosperity.
 
Publisher Deakin University
 
Contributor —
 
Date 2011-07-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier https://ojs.deakin.edu.au/index.php/dpibe/article/view/134
10.21153/dpibe2011vol4no2art134
 
Source Deakin Papers on International Business Economics; Vol 4, No 2 (2011); 1-15
2206-4060
 
Language eng
 
Relation https://ojs.deakin.edu.au/index.php/dpibe/article/view/134/133