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The purpose of this paper is to examine the interactive effect of human capital in financial development–economic growth nexus. Relative to the quantity-based measure of enrolment rates, the main aim was to determine how quality of human capital proxied by pupil–teacher ratio influences the relationship between domestic financial sector development and overall economic growth.

Data are obtained from the World Development Indicators of the World Bank for 29 sub-Saharan African (SSA) countries over the period 1980–2014. The analyses were conducted using the system generalised method of moments within the endogenous growth framework while controlling for country-specific and time effects. The author also follows Papke and Wooldridge procedure in examining the long-run estimates of the variables of interest.

The key finding is that, while both human capital and financial development unconditionally promotes growth in both the short and long run, results from the interactive terms suggest that, irrespective of the measure of finance, financial sector development largely spurs growth on the back of quality human capital. This finding is also confirmed by the marginal and net effects where the interactive effect of pupil–teacher ratio and indicators of finance are consistently huge relative to the enrolment. Statistically, the results are robust to model specification.

While it is laudable for SSA countries to increase access to education, it is equally more crucial to increase the supply of teachers at the same time improving on the limited teaching and learning materials. Indeed, there are efforts to develop rather low levels of the financial sector owing to its unconditional growth effects. Beyond the direct benefit of finance, however, higher growth effect of finance is conditioned on the quality level of human capital. The outcome of this study should therefore reignite the recognition of the complementarity role of human capital and finance in economic growth process.

The study makes significant contributions to existing finance–growth literature in so many ways: first, the auhor extend the literature by empirically examining how different measures of human capital shape the finance–economic growth nexus. Through this the author is able to bring a different perspective in the literature highlighting the role of countries’ human capital stock in mediating the impact of financial deepening on economic growth. Second, the author makes a more systematic attempt to evaluate the relative importance of finance and human capital in growth process while controlling for several ancillary variables.

This chapter traces the early beginnings of schools and schooling in Aotearoa New Zealand. We have drawn on archival evidence to identify shifting tensions between Māori and missionary, between Church and State and between local and national priorities. Despite its relative size, the history of New Zealand’s schools highlights their complex and competing origins. This educational landscape has been marked by emerging concerns and unresolved tensions regarding entry standards, academic and professional training, recruitment, and the knowledge, skills and dispositions a teacher ought to possess. There has been little consensus about how teachers should be prepared and where this training ought to occur. The absence of any uniform understanding or agreement about the effective professional training and preparation of teachers has induced a level of bureaucratization as competing interests sought to control the work of teachers.

This paper investigates the moderating role of institutional quality in the relationship between public education financing and educational quality in Sub-Saharan Africa (SSA).

This paper uses a two-step system generalised method of moments (GMM) to investigate the dynamic relationships among the variables using data from the World Bank covering the periods 2002–2020 for 46 SSA countries.

The results show that institutional quality moderates the effect of public education financing on educational quality at SSA’s primary, secondary and tertiary levels. This finding shows that improved institutional quality enhances the effectiveness of public educational investments.

The findings of this study imply that policymakers seeking to enhance educational quality must not only increase educational investments but also institute measures to improve institutional quality.

Prior studies fail to examine the moderating role of institutional quality in the nexus between public education financing and educational quality. This study analyses the role of institutional quality in the public education financing–educational quality nexus in SSA. The findings of this study contribute to improving the return on public education financing in SSA.

Written official and formal accounts such as Inspectors’ Reports provide a summary of the teachers’ work, conduct, interactions with pupils, as well as a glimpse of the skills, knowledge and dispositions brought to their work. What can be concluded from these reports is that teachers had little occupational control of their work. What was taught and how they taught were prescribed by the curriculum and mediated against the standards pupils attained. In addition, teachers’ and pupils’ successes and failures were made public in Inspectors’ Reports, although it was the teacher who was more readily identifiable if not explicitly named. This is not to suggest that teachers did not act as agents of change. Increasingly, teachers sought to professionalize their work through qualifications, training and exposure to new ideas and practices. Against this backdrop of the professionalization of the workforce were the increasing bureaucratization of schools and teaching and the institutionalization of teacher preparation and training.

A significant gap in the history of teacher preparation in Aotearoa New Zealand is a major study of teachers’ training colleges. Although there are published histories of single teacher colleges, there has been no collective understanding of the role and purpose of these colleges in the development and preparation of teachers. This chapter is not a linear history of the development of teachers’ colleges, but rather an examination of the economic, political and social factors that affected the contested operations of these institutions. The implications for the preparation of elementary (primary), and post–primary (secondary) teachers are considered.