Income Risks, Gender, and Human Capital Investment in a Developing Country
AbstractThis paper investigates the role of permanent and transitory incomes in educational investments using household panel data from Pakistan. The empirical results indicate that transient poverty is a serious obstacle to human capital investment. Our analysis also points out that schooling response to an income shock is consistently larger for daughters than sons and that there may exist resource competition among siblings. Human capital investment and intrahousehold schooling allocation decisions seem to be affected by a need for self-insurance devices under binding credit constraints. As a by-product, our empirical results are in favor of the investment model of education against the consumption model.
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Bibliographic InfoPaper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-198.
Length: 40 pages
Date of creation: Feb 2003
Date of revision:
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