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Economics of Income Inequality and Educational Investment

Author

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  • Ryuichi TANAKA

Abstract

This paper examines the effects of current income inequality on future economic growth and income inequality focusing on educational investment as a mechanism generating intergenerational income persistency. After reviewing empirical studies on the relationship between income inequality and economic growth, we review theoretical models of educational investment and intergenerational income dynamics with special focus on imperfect capital market. We review the models with private schools and public schools whose quality and quantity are determined by political process. Finally we try to draw some policy implications for Japan. JEL Classification Codes:D31, D72, H42, I22, O15

Suggested Citation

  • Ryuichi TANAKA, 2017. "Economics of Income Inequality and Educational Investment," Economic Analysis, Economic and Social Research Institute (ESRI), vol. 195, pages 64-88, October.
    • Handle: RePEc:esj:esriea:195d
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    File URL: http://www.esri.go.jp/jp/archive/bun/bun195/bun195d.pdf
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    More about this item

    Keywords

    Educational Investment; Income Inequality; Economic Growth;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration

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