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Human Capital and the Quality of Education in a Poverty Trap Model

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  • Maria Emma Santos

Abstract

This paper presents a model of a poverty trap that is caused by an unequal initial income and human capital distribution and differences in the quality of education between children from more and less advantaged social sectors. Under certain conditions, the economy converges to a situation with three stable and simultaneous equilibria, two of which constitute poverty traps, lowering the economy's current and steady-state aggregate output level as well as its growth rate. The model suggests that a policy oriented towards equalizing the quality of education would, in the long run, have the potential to reduce initial inequalities.

Suggested Citation

  • Maria Emma Santos, 2011. "Human Capital and the Quality of Education in a Poverty Trap Model," Oxford Development Studies, Taylor & Francis Journals, vol. 39(1), pages 25-47.
  • Handle: RePEc:taf:oxdevs:v:39:y:2011:i:1:p:25-47
    DOI: 10.1080/13600818.2010.551003
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    Cited by:

    1. Rossana Patron, 2014. "On the institutional limits to human capital," Investigaciones de Economía de la Educación volume 9,in: Adela García Aracil & Isabel Neira Gómez (ed.), Investigaciones de Economía de la Educación 9, edition 1, volume 9, chapter 45, pages 867-878 Asociación de Economía de la Educación.
    2. Raluca Iorgulescu, 2015. "Human Capital, The Digital Divide, And The Possible Connection To The Flow-Fund Analysis Of Socioeconomic Metabolism," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 5-16, January.

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