The Role of Education Supply in Economic Growth and the Dynamics of Skills
AbstractThis paper analyzes the role of the structure of skills in economic development through investment in human capital. With a lack of credit market for education and the presence of indivisibilities in investment in human capital as well as of a congestion effect of the educational system, the initial distribution of skills affect aggregate output and investment both in the short and the in the long run, as there multiple balanced growth paths. This paper provides an additional explanation for the persistent differences in per-capita output across countries. Moreover, it shows that cross-country differences in macroeconomic adjustments to educational policies can be attributed,among other factors, to differences in the distribution of skills.
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Bibliographic InfoPaper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 99a15.
Length: 24 pages
Date of creation: 1999
Date of revision:
Contact details of provider:
Postal: G.R.E.Q.A.M., (GROUPE DE RECHERCHE EN ECONOMIE QUANTITATIVE D'AIX MARSEILLE), CENTRE DE VIEILLE CHARITE, 2 RUE DE LA CHARITE, 13002 MARSEILLE.
Web page: http://www.greqam.fr/
More information through EDIRC
HUMAN CAPITAL ; EDUCATION ; ECONOMIC GROWTH;
Other versions of this item:
- BARTHELEMY, Vincent & MICHEL, Philippe, 1999. "The role of education supply in economic growth and the dynamics of skills," CORE Discussion Papers 1999023, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I28 - Health, Education, and Welfare - - Education - - - Government Policy
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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