From Quantity to Quality in Addressing the Relationship Between Education and Economic Development

AbstractEducation is a key factor in any strategy designed to encourage economic development. This paper aims to highlight the limits of quantitative approaches concerning the relation between education and economic development. The risks associated with actions proposed by different strategies are related to the overaccumulation of educational capital compared with the labor market needs. For this reason, these strategies should be rethought, and the educational systems should be reformed using quality criteria. Thus, the institutional frame that allows to link education with labor market should be taken into account