Abstract

Education is very important research subject in the field of economy. It is a major determinant of economic development and a central factor to human capital capacity-building. It is very common that the studies which focus on the examine the relationship between educational inputs and outputs generally analyze this relationship by Educational Production Function which connects a variety of input types to a given output. Following to this function, the aim of this study is to give a better understanding of the PISA-participating Asian countries’ success analysing the importance of the economic/socio-economic and educational factors on the quality of education, using Panel Data methods. These economic and non-economic variables give us a good mix of data to regress upon and make our determinations about the relationship between educational output and inputs.
 Since the quality of education is measured by student’s average performance on standardized international test, we focus on the PISA-based test scores in the study. PISA was developed by OECD in order to determine how efficiently the students at the 15 year-old age group are educated and trained. It was first performed in 2000 and then repeated every three years. Its aim is to provide comparable data with a view to enabling countries to improve their education policies and outcomes.
 In general, the implication of these findings can serve as a guideline for teachers, politicians, governments and give a light to educational policies and methodologies which help countries improve their quality on education.

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