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EDUCATIONAL QUALITY AND INCOME DISTRIBUTION.
AN EMPIRICAL ANALYSIS.
Miltiades N Georgiou PhD
ABSTRACT
According to the study of (Hanushek and Wößmann, 2007) it was found among
others that the skills of the population – rather than mere school attainment – are
powerfully related to individual earnings, to the distribution of income, and to
economic growth. In the present paper author will focus on income distribution. It
will be pointed out that educational quality does not necessarily improve income
distribution. There are also other determinant factors. Panel data are elaborated by the
Eviews software package.
Keywords: Model with Panel data (single equation), Education, Income distribution,
Entrepreneurship, Labour market.
JEL classification: C23, H52, H75, L26, M5.
Dr. M. N. Georgiou has an M.Sc. (Economics) from Stirling University, and a Ph.D.
(Economics) from the University of Thessaly in Greece. He left in July 2008
Emporiki Bank as a Department Head on Market Analysis. He has contributed papers
to: “Hellenic Bank Association”, “Economic Review of Commercial Bank of
Greece”, “Applied Research Review”, “Applied Financial Economics Letters”,
“Max Planck Institute of Economics” (4) and “Social Science Research Network
(SSRN)” (37). He is familiar with Eviews software package. E-mail: mng@insitu.gr
Author confirms that this article has never been published by any other journal.
Further, this article expresses only author’s personal ideas and of nobody else.
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PART 1. THEORY REVIEW
According to the study of (Hanushek and Wößmann, 2007) it was found
among others that the skills of the population – rather than mere school attainment –
are powerfully related to individual earnings, to the distribution of income, and to
economic growth. In the present paper author will focus on income distribution. It
will be pointed out that educational quality does not improve income distribution.
This finding seems to be in agreement with the study of (Hanushek an