Public versus Private Education in an Endogenous Growth Model with Social Status

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Public versus Private Education in an Endogenous Growth Model with Social Status

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Katsunori Yamada () (Graduate School of Economics, Kyoto University)

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Katsunori Yamada

Abstract

This paper investigates which of publicly financed education or privately financed education is favorable for growth in an economy where development of new technology by specialists is the engine of growth and social rewards are bestowed upon growth enhancing activities. We show that when one quests for social status, the privately financed education could improve the allocation of human resource and the growth rate could become higher in the private finance regime than in the public finance regime.

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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 15 (2005)
Issue (Month): 11 ()
Pages: 1-9
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Handle: RePEc:ebl:ecbull:v:15:y:2005:i:11:p:1-9

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Find related papers by JEL classification:
O1 - Economic Development, Technological Change, and Growth - - Economic Development
I2 - Health, Education, and Welfare - - Education

References listed on IDEAS
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Other versions:
- Bénabou, Roland, 2004. "Inequality, Technology and the Social Contract," CEPR Discussion Papers 4741, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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Other versions:
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Hanushek, Eric & Charles Ka Yui Leung & Kuzey Yilmaz, 2002. "Redistribution through Education and Other Transfer Mechanisms," Royal Economic Society Annual Conference 2002 94, Royal Economic Society. [Downloadable!]
Other versions:
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Other versions:
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Other versions:
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