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International Trade and the Accumulation of Human Capital

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  • Ann L. Owen

Abstract

Changes 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 Info

Article provided by Southern Economic Association in its journal Southern Economic Journal.

Volume (Year): 66 (1999)
Issue (Month): 1 (July)
Pages: 61-81

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Handle: RePEc:sej:ancoec:v:66:1:y:1999:p:61-81

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  1. Grossman, Gene M & Helpman, Elhanan, 1990. "Trade, Innovation, and Growth," American Economic Review, American Economic Association, American Economic Association, vol. 80(2), pages 86-91, May.
  2. Oded Galor & Joseph Zeira, 2013. "Income Distribution and Macroeconomics," Working Papers 2013-12, Brown University, Department of Economics.
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  5. Findlay, Ronald & Kierzkowski, Henryk, 1983. "International Trade and Human Capital: A Simple General Equilibrium Model," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 91(6), pages 957-78, December.
  6. Iyigun, Murat F, 1999. "Public Education and Intergenerational Economic Mobility," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(3), pages 697-710, August.
  7. Grossman, Gene M & Helpman, Elhanan, 1991. "Endogenous Product Cycles," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 101(408), pages 1214-29, September.
  8. Nickell, Stephen J, 1981. "Biases in Dynamic Models with Fixed Effects," Econometrica, Econometric Society, Econometric Society, vol. 49(6), pages 1417-26, November.
  9. Perotti, Roberto, 1994. "Income distribution and investment," European Economic Review, Elsevier, Elsevier, vol. 38(3-4), pages 827-835, April.
  10. Donald R. Davis & Trevor A. Reeve, 1997. "Human Capital, Unemployment and Relative Wages in a Global Economy," Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research 1804, Harvard - Institute of Economic Research.
  11. Owen, Ann L. & Weil, David N., 1998. "Intergenerational earnings mobility, inequality and growth," Journal of Monetary Economics, Elsevier, Elsevier, vol. 41(1), pages 71-104, February.
  12. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, Elsevier, vol. 68(1), pages 53-78, July.
  13. Galor, Oded, 1992. "A Two-Sector Overlapping-Generations Model: A Global Characterization of the Dynamical System," Econometrica, Econometric Society, Econometric Society, vol. 60(6), pages 1351-86, November.
  14. Edward E. Leamer, 1996. "In Search of Stolper-Samuelson Effects on U.S. Wages," NBER Working Papers 5427, National Bureau of Economic Research, Inc.
  15. Gary Burtless, 1995. "International Trade and the Rise in Earnings Inequality," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 33(2), pages 800-816, June.
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  17. Raquel Fernandez & Richard Rogerson, 1994. "On the political economy of education subsidies," Staff Report, Federal Reserve Bank of Minneapolis 185, Federal Reserve Bank of Minneapolis.
  18. Stokey, Nancy L, 1996. " Free Trade, Factor Returns, and Factor Accumulation," Journal of Economic Growth, Springer, Springer, vol. 1(4), pages 421-47, December.
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Cited by:
  1. Choi, E. Kwan, 2007. "North-South trade and income inequality," International Review of Economics & Finance, Elsevier, Elsevier, vol. 16(3), pages 347-356.
  2. Rossana Patrón, 2009. "Trade liberalization in a Heckscher–Ohlin model: Does public skill formation change the conventional results?," Documentos de Trabajo (working papers), Department of Economics - dECON 1809, Department of Economics - dECON.
  3. Saccone Donatella, 2008. "Economic openness, skill demand and skill supply in three archetypes of developing countries: a theoretical and empirical investigation," Department of Economics and Statistics Cognetti de Martiis. Working Papers, University of Turin 200813, University of Turin.
  4. Ranjan, Priya, 2003. "Trade induced convergence through human capital accumulation in credit-constrained economies," Journal of Development Economics, Elsevier, Elsevier, vol. 72(1), pages 139-162, October.

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