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Education Funding and Regional Convergence

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  • de la Croix, David

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES) ; Belgian National Fund for Scientific Research (FNRS))

  • Monfort, Philippe

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

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

Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 1999010.

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Length: 20
Date of creation: 01 Mar 1999
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Handle: RePEc:ctl:louvir:1999010

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Keywords: Altruism; education; growth; convergence; capital mobility;

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References

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  1. Durlauf, Steven N. & Quah, Danny T., 1999. "The new empirics of economic growth," Handbook of Macroeconomics, Elsevier, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 4, pages 235-308 Elsevier.
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  6. Buiter, Willem H & Kletzer, Kenneth, 1995. "Capital Mobility, Fiscal Policy and Growth Under Self-Financing of Human Capital Formation," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1179, C.E.P.R. Discussion Papers.
  7. Benabou, Roland, 1996. "Heterogeneity, Stratification, and Growth: Macroeconomic Implications of Community Structure and School Finance," American Economic Review, American Economic Association, American Economic Association, vol. 86(3), pages 584-609, June.
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  10. Andreoni, James, 1989. "Giving with Impure Altruism: Applications to Charity and Ricardian Equivalence," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(6), pages 1447-58, December.
  11. Sala-i-Martin, Xavier, 1994. "Regional Cohesion: Evidence and Theories of Regional Growth and Convergence," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1075, C.E.P.R. Discussion Papers.
  12. Michel, P. & Vidal., J.-P., 1998. "Economic Integration and Growth under Intergenerational Financing of Human Capital Formation," Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge 9809, Faculty of Economics, University of Cambridge.
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  15. 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, University of Chicago Press, vol. 100(4), pages 818-34, August.
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Cited by:
  1. David DE LA CROIX & Matthias DOEPKE, 2002. "Public versus Private Education When Diferential Fertility Matters," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) 2002013, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  2. de la Croix, David, 2001. "Growth dynamics and education spending: The role of inherited tastes and abilities," European Economic Review, Elsevier, Elsevier, vol. 45(8), pages 1415-1438, August.
  3. Marion Davin & Karine Gente & Carine Nourry, 2011. "Social Optimum in an OLG Model with Paternalistic Altruism," Working Papers halshs-00644094, HAL.
  4. 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.
  5. Rainald Borck, 2007. "Federalism, Fertility and Growth," CESifo Working Paper Series 2167, CESifo Group Munich.
  6. Wildasin, David, 2014. "Human Capital Mobility: Implications for Efficiency, Income Distribution, and Policy," IZA Discussion Papers 8199, Institute for the Study of Labor (IZA).
  7. David E. Wildasin, 2014. "Human Capital Mobility: Implications for Efficiency, Income Distribution, and Policy," CESifo Working Paper Series 4794, CESifo Group Munich.

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