The Political Economy of Education and Development in an Open Economy
AbstractIf the price effect of opening up a developing economy may be expected to act as a disincentive for investment in human capital, the opposite is likely to be true of the income effect, especially in the presence of credit market imperfections among the poor. It is shown in this Paper that this may not be the case anymore in a society initially dominated by an oligarchic capitalist elite that is afraid of losing its political control in favour of an educated middle class. Although it may sometimes be in its interest to democratize by subsidizing education when the economy is closed, incentives to do so disappear when the economy is open to trade or factor flows.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3075.
Date of creation: Nov 2001
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Other versions of this item:
- François Bourguignon & Thierry Verdier, 2005. "The Political Economy of Education and Development in an Open Economy," Review of International Economics, Wiley Blackwell, vol. 13(3), pages 529-548, 08.
- François Bourguignon & Thierry Verdier, 2001. "The Political Economy of Education and Development in an Open Economy," DELTA Working Papers 2001-11, DELTA (Ecole normale supérieure).
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
- F15 - International Economics - - Trade - - - Economic Integration
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
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