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Education funding and regional convergence

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  • Philippe Monfort

    ()
    (IRES, Université catholique de Louvain, Place Montesquieu 3, B-1348 Louvain-la-Neuve, Belgium)

  • David de la Croix

    ()
    (National Fund for Scientific Research and IRES, Université catholique de Louvain, Place Montesquieu 3, B-1348 Louvain-la-Neuve, Belgium)

Abstract

The aim of this paper is to discuss the process of regional convergence within the framework of an overlapping generations model in which the engine of growth is the accumulation of human capital. In particular, we consider different education funding systems and compare their performance in terms of growth rates and pace of convergence between two heterogeneous regions. The analysis suggests that the choice of a particular education system incorporates a possible trade-off between long run growth rate and short run convergence. In such choice, the initial capital stock and the extent of regional human capital discrepancy appear as central variables.

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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: 403-424

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Handle: RePEc:spr:jopoec:v:13:y:2000:i:3:p:403-424

Note: Received: 27 January 1999/Accepted: 16 April 1999
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Keywords: Altruism · education · growth · convergence · capital mobility;

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References

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  7. Philippe Michel & Jean-Pierre Vidal, 2000. "Economic integration and growth under intergenerational financing of human-capital formation," Journal of Economics, Springer, vol. 72(3), pages 275-294, October.
  8. Barro, Robert J., 1974. "Are Government Bonds Net Wealth?," Scholarly Articles 3451399, Harvard University Department of Economics.
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  13. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 818-34, August.
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Cited by:
  1. DE LA CROIX, David & DOEPKE, Matthias, . "Public versus private education when differential fertility matters," CORE Discussion Papers RP -1727, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. David E. Wildasin, 2014. "Human Capital Mobility: Implications for Efficiency, Income Distribution, and Policy," CESifo Working Paper Series 4794, CESifo Group Munich.
  3. Lionel Artige, 2010. "Endogenous Growth and Parental Funding of Education in an OLG Model with a Fixed Factor," CREPP Working Papers 1003, Centre de Recherche en Economie Publique et de la Population (CREPP) (Research Center on Public and Population Economics) HEC-Management School, University of Liège.
  4. Rainald Borck, 2007. "Federalism, Fertility and Growth," CESifo Working Paper Series 2167, CESifo Group Munich.
  5. Wildasin, David, 2014. "Human Capital Mobility: Implications for Efficiency, Income Distribution, and Policy," IZA Discussion Papers 8199, Institute for the Study of Labor (IZA).
  6. de la Croix, David, 2001. "Growth dynamics and education spending: The role of inherited tastes and abilities," European Economic Review, Elsevier, vol. 45(8), pages 1415-1438, August.
  7. Marion Davin & Karine Gente & Carine Nourry, 2012. "Social optimum in an OLG model with paternalistic altruism," Economics Bulletin, AccessEcon, vol. 32(4), pages 3417-3424.

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