Nevine Mokhtar Eid () (Faculty of Management Technology, The German University in Cairo)
Abstract
In the Markowitz (1952) mean-variance model as well as the Capital Asset Pricing Model of Sharpe (1964) and Lintner (1965) agents make their investment decisions based solely on the expected return and variance. On the other hand, human capital theory does not consider uncertainty in its return function except recently initiated by Harmon et al. (2001) who distinguish between the level and the years of education and incorporate uncertainty in Mincer’s Model (1974). This study has twofold objectives: First, estimate the risk-return trade-off of the public higher education capital stock in Egypt to indirectly evaluate the performance of its current financing system, and second, investigate the inter-linkage between real investment (human) and financial investment (lost opportunity or access to funds), then draw the channel through which they can affect the economic growth.
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Publisher Info
Paper provided by The German University in Cairo, Faculty of Management Technology in its series Working Papers with number
8.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Dale W. Jorgenson & Barbara M. Fraumeni, 1992.
"The Output of the Education Sector,"
NBER Chapters,
in: Output Measurement in the Service Sectors, pages 303-341
National Bureau of Economic Research, Inc.
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