Educational level, GDP & wages : a study on the direction of causality

• Main Authors: Ang, Hock Yick, Pan, Zheng Hong, Lim, Sajeev Prasad
• Other Authors: Chew Seow Lung, Rosalind
• Format: Final Year Project
• Language: English
• Published: 2012
• Subjects: DRNTU::Social sciences::Economic theory::Macroeconomics
• Online Access: http://hdl.handle.net/10356/48614
• Institution: Nanyang Technological University

This paper examines the causal relationships between labour force education levels and real GDP per capita, as well as average real wages in Singapore from 1980 to 2009. As investment in education is generally costly and any potential benefits are not immediately realised or observable, it is of eco...