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Public and Private Educational Expenditure and Human Capital Accumulation

Author

Listed:
  • Hiroki Tanaka

    (Doshisha University)

  • Masaya Yasuoka

    (Kwansei Gakuin University)

Abstract

This study was conducted to examine how the human capital stock of children is determined in a model for which human capital stock is produced by school education and private tutoring inputs. School education of two types is considered: public and private. Our paper presents consideration of substitution between school education and private tutoring. Although some reports of the related literature describe human capital accumulation including substitution between school education and the private tutoring, few studies have examined how education policy affects demand for school education. The human capital stock of children is determined in the model with substitution between school education and the private tutoring. Our paper presents consideration of human capital accumulation functions of several types: Constant elasticity of Substitution (CES), perfect substitution, and perfect complementarity between school education and private tutoring.

Suggested Citation

  • Hiroki Tanaka & Masaya Yasuoka, 2021. "Public and Private Educational Expenditure and Human Capital Accumulation," Discussion Paper Series 232, School of Economics, Kwansei Gakuin University.
    • Handle: RePEc:kgu:wpaper:232
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    File URL: http://192.218.163.163/RePEc/pdf/kgdp232.pdf
    File Function: First version, 2021
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    More about this item

    Keywords

    Education Choice; Human Capital; Private Tutoring; Public and Private schooling; Subsidy;
    All these keywords.

    JEL classification:

    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • H52 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Education

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