Refuting the OECD-World Bank development narrative: was East Asia’s ‘Economic Miracle’ primarily driven by education quality and cognitive skills?^*

Abstract

Founded on several highly influential quantitative studies, the past decade has witnessed the OECD and World Bank increasingly converge on the view that cognitive levels of students and education quality, as proxied by international large-scale assessments (ILSAs), are the primary determinant of national economic growth worldwide. More recent OECD and World Bank pronouncements have further suggested these dynamics are clearly illustrated in East Asia’s education and ‘Economic Miracle’, in particular the cases of South Korea and Singapore. Herein we utilise the OECD’s own data to examine this new development narrative, finding little evidence in support of these claims.