Quantity and Quality of Human Capital: Does the Average Years of Schooling Increase the Quality of Students?

Abstract

The topic of human capital and economic growth has been intensively examined in empirical studies since 1980s. The quality of human capital is frequently mentioned as a crucial factor which can help to properly understand and determine relationships. So far there have been no studies concerning the link between quantity and quality of human capital, which is thus the key focus point of this paper. The quality is according to previous international papers approximated by student scores in international testing, the quantity of human capital is then approximated by the average years of schooling. The paper presents a new data set which combines data from previous papers and by panel regression analyses tests the hypothesis whether the average number of years of education positively influences the quality of the students with respect to their results in international tests. Kvantita a kvalita lidského kapitálu: může počet let vzdělávání zvýšit úroveň studentů?