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Private versus public financing of education and endogenous growth

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  • Jean-Pierre Vidal

    ()
    (GREQAM, Centre National de la Recherche Scientifique, 2 rue de la Charité, 13002 Marseille, France)

  • Michael Bräuninger

    ()
    (Department of Economics, Universität der Bundeswehr Hamburg, Holstenhofweg 85, 22043 Hamburg, Germany)

Abstract

This paper examines interactions between education policy and growth. The analysis is carried out in an OLG model with two types of individuals: skilled and unskilled. An increase in public education reduces private costs of education, increases the proportion of skilled individuals, and tends to promote growth. On the other hand, education spending crowds out physical capital and reduces learning-by-doing. A marginal increase in the education subsidy can lower growth. It is yet shown that pure public education maximizes the long-run growth rate. Importantly, a partial subsidy to education can result in lower growth than pure private education.

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Bibliographic Info

Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 13 (2000)
Issue (Month): 3 ()
Pages: 387-401

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Handle: RePEc:spr:jopoec:v:13:y:2000:i:3:p:387-401

Note: Received: 7 March 1999/Accepted: 25 November 1999
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Related research

Keywords: Growth · education · inequality · overlapping generations;

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Cited by:
  1. Verbic, Miroslav & Majcen, Boris & Cok, Mitja, 2009. "Education and Economic Growth in Slovenia: A Dynamic General Equilibrium Approach with Endogenous Growth," MPRA Paper 17817, University Library of Munich, Germany.
  2. Vladimir Kuhl Teles & Joaquim Andrade, 2008. "Public investment in basic education and economic growth," Journal of Economic Studies, Emerald Group Publishing, vol. 35(4), pages 352-364, July.
  3. Günther Rehme, 2007. "Education, Economic Growth and Measured Income Inequality," Economica, London School of Economics and Political Science, vol. 74(295), pages 493-514, 08.
  4. repec:ebl:ecbull:v:9:y:2005:i:10:p:1-6 is not listed on IDEAS
  5. Mauricio Armellini & Parantap Basu, 2010. "Altruism, Education Subsidy and Growth," EERI Research Paper Series EERI_RP_2010_21, Economics and Econometrics Research Institute (EERI), Brussels.
  6. Luís Francisco Aguiar-Conraria, 2004. "Public vs Private Schooling in an Endogenous Growth Model," NIPE Working Papers 7/2004, NIPE - Universidade do Minho.
  7. Blankenau, William, 2005. "Public schooling, college subsidies and growth," Journal of Economic Dynamics and Control, Elsevier, vol. 29(3), pages 487-507, March.
  8. Nakajima, Tetsuya & Nakamura, Hideki, 2009. "The price of education and inequality," Economics Letters, Elsevier, vol. 105(2), pages 183-185, November.
  9. Luís Aguiar-Conraria, 2005. "Public vs private schooling in an endogenous growth model," Economics Bulletin, AccessEcon, vol. 9(10), pages 1-6.
  10. Arcalean, Calin & Schiopu, Ioana, 2010. "Public versus private investment and growth in a hierarchical education system," Journal of Economic Dynamics and Control, Elsevier, vol. 34(4), pages 604-622, April.
  11. Nakajima, Tetsuya & Nakamura, Hideki, 2012. "How Do Elementary And Higher Education Affect Human Capital Accumulation And Inequality? A Note," Macroeconomic Dynamics, Cambridge University Press, vol. 16(01), pages 151-158, February.
  12. L. Marattin, 2007. "Optimal Fiscal Policy with Private and Public Investment in Education," Working Papers 589, Dipartimento Scienze Economiche, Universita' di Bologna.
  13. Leonid Azarnert, 2010. "Free education, fertility and human capital accumulation," Journal of Population Economics, Springer, vol. 23(2), pages 449-468, March.

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