International Trade and the Accumulation of Human Capital
AbstractChanges in the terms of trade affect both the incentives and the ability of individuals to purchase education in a credit-constrained economy. A model is developed that shows how individual decision-making is affected in a small economy when it opens up to trade. Empirical results indicate that credit constraints are an important factor influencing school enrollment rates, particularly in low income countries. As a result, countries with low human capital stocks tend to increase their accumulation of human capital with increased trade. The response in high income countries is more muted.
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Bibliographic InfoArticle provided by Southern Economic Association in its journal Southern Economic Journal.
Volume (Year): 66 (1999)
Issue (Month): 1 (July)
Other versions of this item:
- Ann L. Owen, 1995. "International trade and the accumulation of human capital," Finance and Economics Discussion Series 95-49, Board of Governors of the Federal Reserve System (U.S.).
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