The Political Economy of Education and Development in an Open Economy
AbstractIf the price effect of opening up a developing economy may be expected to act as a disincentive for investment in human capital, the opposite is likely to be true of the income effect, especially in the presence of credit market imperfections among the poor. It is shown in this paper that this may no longer be the case in a society initially dominated by an oligarchic capitalist elite that is afraid of losing its political control in favor of an educated middle class. Although it may sometimes be in its interest to democratize by subsidizing education when the economy is closed, incentives to do so disappear when the economy is open to trade or factor flows. Copyright Blackwell Publishing Ltd 2005..
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of International Economics.
Volume (Year): 13 (2005)
Issue (Month): 3 (08)
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Other versions of this item:
- François Bourguignon & Thierry Verdier, 2001. "The Political Economy of Education and Development in an Open Economy," DELTA Working Papers 2001-11, DELTA (Ecole normale supérieure).
- Bourguignon, François & Verdier, Thierry, 2001. "The Political Economy of Education and Development in an Open Economy," CEPR Discussion Papers 3075, C.E.P.R. Discussion Papers.
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
- F15 - International Economics - - Trade - - - Economic Integration
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
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