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


  • Katsunori Yamada

    () (Graduate School of Economics, Kyoto University)


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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    References listed on IDEAS

    1. Craig Burnside & Martin Eichenbaum & Jonas D. M. Fisher, 1999. "Assessing the effects of fiscal shocks," Working Paper Series WP-99-18, Federal Reserve Bank of Chicago.
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    5. Alba, Joseph D. & Papell, David H., 1998. "Exchange rate determination and inflation in Southeast Asian countries," Journal of Development Economics, Elsevier, vol. 55(2), pages 421-437, April.
    6. Edward, Sebastian, 1986. "Are Devaluations Contractionary?," The Review of Economics and Statistics, MIT Press, vol. 68(3), pages 501-508, August.
    7. Fujii, Eiji, 2002. "Exchange Rate and Price Adjustments in the Aftermath of the Asian Crisis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 7(1), pages 1-14, January.
    8. Wongbangpo, Praphan & Sharma, Subhash C., 2002. "Stock market and macroeconomic fundamental dynamic interactions: ASEAN-5 countries," Journal of Asian Economics, Elsevier, vol. 13(1), pages 27-51.
    9. David H. Romer, 2000. "Keynesian Macroeconomics without the LM Curve," Journal of Economic Perspectives, American Economic Association, vol. 14(2), pages 149-169, Spring.
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    More about this item


    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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