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Public versus Private Education in an Endogenous Growth Model with Social Status

Author

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  • Katsunori Yamada

    () (Graduate School of Economics, Kyoto University)

Abstract

This paper investigates which of publicly financed education or privately financed education is favorable for growth in an economy where development of new technology by specialists is the engine of growth and social rewards are bestowed upon growth enhancing activities. We show that when one quests for social status, the privately financed education could improve the allocation of human resource and the growth rate could become higher in the private finance regime than in the public finance regime.

Suggested Citation

  • Katsunori Yamada, 2005. "Public versus Private Education in an Endogenous Growth Model with Social Status," Economics Bulletin, AccessEcon, vol. 15(11), pages 1-9.
  • Handle: RePEc:ebl:ecbull:eb-04o10014
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    File URL: http://www.accessecon.com/pubs/EB/2005/Volume15/EB-04O10014A.pdf
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    More about this item

    Keywords

    Allocation of Human Resource;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • I2 - Health, Education, and Welfare - - Education

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