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http://dx.doi.org/10.5762/KAIS.2011.12.6.2528

The Change of Age Structure of Population and the Efficiency of Education Investment  

Lee, Jong-Ha (Department of Economics, Korea University)
Hwang, Jin-Young (Department of Economics, Hannam University)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.12, no.6, 2011 , pp. 2528-2534 More about this Journal
Abstract
This paper investigates the relationship between the change of age structure of population and the efficiency of education investment, using cross-section of 106 countries. Based on the existing theoretical arguments, we establish a hypothesis concerning the relationship between age structure and education investment efficiency. The regression results suggest that a country's with a higher ratio of young age to total population results in a lower level of the efficiency of education investment. However, there exists a positive and significant relationship between the ratio of old age to total population and the efficiency of education investment. Therefore, it does suggest that countries experiencing reducing in fertility rate and increasing in expected longevity, such as Korea, not only should be maximized the education efficiency but also contrived for the institutional system for maximization the efficiency of education performance.
Keywords
Age Structure of Population; Efficiency of Educational Investment; Old Age; Young Age;
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