Estimation of Education Production Function A Case Study of Selected Villages in District Nowshera, Khyber Pakhtunkhwa, Pakistan

Abstract

Abstract
To assess student’s academic performance (output), the education production function considers school, teacher, and student inputs. The objective of this study is to estimate an education production function for Government and Private higher secondary schools in Nowshera to analyze the drivers of educational outcome in the study area. Education is vital to development because a high-quality education system is a major component of a developing country's ability to improve individuals' skills, knowledge, and capacities, hence boosting the stock of human capital. Human capital is an important component of economic success and growing living standards. Pakistan is possibly the country in the world where educational efficiency is most crucial, because policymakers are confronted with a rapidly rising population, a poor level of education, and limited resources. It will be difficult to improve efficiency without a high-quality educational system and a thorough grasp of the factors that influence educational performance. For this purpose, a cross-sectional data and Ordinary Least Square were used to specify production function, using annual examination scores as output (DV’s), while using school inputs, student characteristics, family background, and teacher characteristics are as inputs (IV’s) in the private and public schools. Results of the study show that student's characteristics, teacher's characteristics, and family background except for mother education, profession, income has a positive statistically significant impact on student's academic performances. This study's findings have significant policy implications for Nowshera and Pakistan in general.