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Education funding and regional convergence

  • Philippe Monfort

    ()

    (IRES, Université catholique de Louvain, Place Montesquieu 3, B-1348 Louvain-la-Neuve, Belgium)

  • David de la Croix

    ()

    (National Fund for Scientific Research and IRES, Université catholique de Louvain, Place Montesquieu 3, B-1348 Louvain-la-Neuve, Belgium)

The aim of this paper is to discuss the process of regional convergence within the framework of an overlapping generations model in which the engine of growth is the accumulation of human capital. In particular, we consider different education funding systems and compare their performance in terms of growth rates and pace of convergence between two heterogeneous regions. The analysis suggests that the choice of a particular education system incorporates a possible trade-off between long run growth rate and short run convergence. In such choice, the initial capital stock and the extent of regional human capital discrepancy appear as central variables.

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Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 13 (2000)
Issue (Month): 3 ()
Pages: 403-424

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Handle: RePEc:spr:jopoec:v:13:y:2000:i:3:p:403-424
Note: Received: 27 January 1999/Accepted: 16 April 1999
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