Investing in public education systems is crucial for countries seeking to leverage their demographic dividend. South Korea’s economic development, often called the ‘Miracle on the Han River,’ exemplifies the impact of strategic educational investments. During its rapid industrialization, the emphasis on education significantly improved literacy rates and provided the necessary skills for industrial and technological sectors.
Empirical research supports the notion that educational investment is positively correlated with economic growth. According to World Bank studies, each additional year of schooling is associated with up to a 10% increase in individual earnings, and countries prioritizing educational quality generally exhibit higher economic growth rates. Similarly, a study by Unicef found that each additional year of schooling is associated with an increase of 0.37 percentage points in GDP growth. This can rise up to 1 percentage point with improved learning outcomes.
As the demographic window narrows with time, the elderly population's proportion is set to rise, gradually diminishing the dividend. This transient nature of a demographic advantage underscores the urgency for strategic interventions to harness its potential before the contours shift towards an older demographic profile. In this context, strategic investments in education are paramount in amplifying the benefits of the demographic dividend. This is precisely what India is doing.
この記事は Mint Mumbai の February 22, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Mint Mumbai の February 22, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Yes, the world is hotter than it has been in 2,000 years or so
A scientific study of tree rings confirms global warming is for real
As a non-resident, is there a tax liability on exiting Indian MFs?
I have been investing in mutual funds for the past four years. Last year, I moved to Dubai and am currently a non-resident Indian NRD). Say, if] exit all my mutual fund investments now, would I have zero tax liability? —Name withheld on request.
Mergers off but PSB privatization still on
T 'he Centre doesn't have any plan to merge public sector banks (PSBS) in FY25, though it will not ditch plans to privatize PSBs during the fiscal, two people aware of the matter said.
Think Tesla Is In Trouble? Pity Even More Its Wannabe EV Rivals
The combined market value of six prominent wannabes hit 400bn in 2021, but today they are worth 65bn
Has The Growth Of Our Economy Translated Into Domestic Jobs?
While the covid shock and other setbacks got in the way, data indicates that employment in India is on a firm recovery path
Financial Sector Reforms Plan To Be Unveiled Post Elections
The govt will cut its stake in five PSBs this fiscal to comply with Sebi’s listing guidelines
Generative AI Is Not Ubiquitous In The Business World-Not Yet
While some AI tools racked up users, some firms are proceeding with caution, or not at all
Wipro’s CEO switch was not about its share price
Shareholder value data does not explain the firm's change on top. In a flux-filled field like infotech, business performance counts for more and Wipro's challenge still seems quite steep
How not to blow a major chunk of your travel budget on visas
Rejection of visas can impact your travel costs, especially when you have to cancel flight and hotel bookings
Wheat output at 106 mt to fall short of govt estimate: Survey
This decline in output comes at a time India confronts rising food inflation
