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This research analyzes the impact of education quality on GDP per capita and educational access, using instrumental variables (IV) models. The findings shed light on the potential of education investment to foster economic growth and development, highlighting the importance of targeted interventions, teacher training, and data-driven approaches to improve educational outcomes and reduce access disparities. Policymakers and international organizations can utilize these insights to devise strategies aligned with Sustainable Development Goal 4 (SDG 4) of ensuring inclusive and equitable education for all, potentially contributing to the achievement of this crucial goal.
Osei‐Kusi et al. (2024) studied this question.