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Composition of Public Education Expenditures and Human Capital Accumulation

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  • Naito, Katsuyuki
  • Nishida, Keigo

Abstract

This paper provides a simple theory to study how the allocation of public funds between primary and higher education affects human capital accumulation. The allocation is endogenously determined through majority voting. Public funding for higher education is not supported when a majority is poor. In some cases, higher education starts to be realized as a majority of individuals accumulate enough human capital through primary education. Although the emergence of higher education can accelerate aggregate human capital accumulation, it widens income inequality because the very poor are excluded from higher education and the declined budget share for primary education decreases its quality.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 39603.

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Date of creation: 22 Jun 2012
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Handle: RePEc:pra:mprapa:39603

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Keywords: Public Education; Economic Development; Income Inequality; Majority Voting;

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  1. Saint-Paul, Gilles & Verdier, Thierry, 1992. "Education, Democracy and Growth," CEPR Discussion Papers, C.E.P.R. Discussion Papers 613, C.E.P.R. Discussion Papers.
  2. Arcalean, Calin & Schiopu, Ioana, 2010. "Public versus private investment and growth in a hierarchical education system," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 34(4), pages 604-622, April.
  3. William Blankenau & Steven Cassou & Beth Ingram, 2007. "Allocating Government Education Expenditures Across K-12 and College Education," Economic Theory, Springer, Springer, vol. 31(1), pages 85-112, April.
  4. Diego Restuccia & Carlos Urrutia, 2002. "Intergenerational Persistence of Earnings: The Role of Early and College Education," Working Papers, Centro de Investigacion Economica, ITAM 0209, Centro de Investigacion Economica, ITAM.
  5. Oded Galor & Omar Moav & Dietrich Vollrath, 2006. "Inequality in Land Ownership, the Emergence of Human Capital Promoting Institutions, and the Great Divergence," DEGIT Conference Papers, DEGIT, Dynamics, Economic Growth, and International Trade c011_001, DEGIT, Dynamics, Economic Growth, and International Trade.
  6. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(4), pages 818-34, August.
  7. Su, Xuejuan, 2004. "The allocation of public funds in a hierarchical educational system," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 28(12), pages 2485-2510, December.
  8. Blankenau, William, 2005. "Public schooling, college subsidies and growth," Journal of Economic Dynamics and Control, Elsevier, Elsevier, vol. 29(3), pages 487-507, March.
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