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Investment in Education: Do Economic Volatility and Credit Constraints Matter?

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  • Flug, Karnit
  • Spilimbergo, Antonio
  • Wachtenheim, Erik

Abstract

The focus of this paper is the link between income volatility and the accumulation of human capital in the presence of credit constraints. Also, the effect of income inequality on the accumulation of human capital within the same framework is studied.

Suggested Citation

  • Flug, Karnit & Spilimbergo, Antonio & Wachtenheim, Erik, 1999. "Investment in Education: Do Economic Volatility and Credit Constraints Matter?," IDB Publications (Working Papers) 1142, Inter-American Development Bank.
    • Handle: RePEc:idb:brikps:1142
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    1. Ramey, Garey & Ramey, Valerie A, 1995. "Cross-Country Evidence on the Link between Volatility and Growth," American Economic Review, American Economic Association, vol. 85(5), pages 1138-1151, December.
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    8. Birdsall, Nancy & Ross, David & Sabot, Richard, 1995. "Inequality and Growth Reconsidered: Lessons from East Asia," The World Bank Economic Review, World Bank, vol. 9(3), pages 477-508, September.
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