Nowadays, the eyes of politicians and researchers are aimed not so much at acquiring truly valuable skills by schoolchildren as at increasing indirect indicators. However, it is the cognitive skills of the population, which Eric Hanushek and Ludger Wössmann call the "intellectual capital" of the country, that are essential for its well-being in the long term. Hypotheses about the relationship of cognitive skills (sequentially measured by international assessment of schoolchildren) and economic growth are subjected to a number of tests, including alternative specifications, different samples of countries and econometric analysis of causal interpretations. Their findings are equally applicable to both developing and developed countries. For example, the "mystery of Latin American growth" and the "East Asian miracle" are explained by the intellectual capital of these regions.