An OLG model is developed which examines parental investment in human capital in a model incorporating human capital externalities. In developing countries, in the absence of well-developed capital markets, children are considered as forms of economic assets. Children's human capital is determined by parental decicionsm, which in turn is influenced by the associated child labour-schooling conflict. The paper analyses the individual optimal human capital investment and compares it with the social optimum.
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Paper provided by Sydney - Department of Economics in its series Papers with number
98-07.
Find related papers by JEL classification: J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity