Human Capital Accumulation: Education and Immigration
Education and immigration are examined and affirmed as drivers of sustainable productivity growth. In education, individuals see continuing benefits to educational investment, a view supported by individual rates of return from education. Private sector expenditure on education has increased substantially, Australia's public/private funding mix conforming to the OECD average. An expansion of migration is possible without unacceptable reduction in skill composition and may enhance Australian human resources development. The migration program should be set to underpin a 1.25 per cent population growth path and be focussed on 'smart' growth and not just growth in numbers.
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References listed on IDEAS
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- Glenn Withers, 2000. "Population Issues and Options: Investing in People," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 33(3), pages 265-271.
- Schultz, Theodore W, 1975. "The Value of the Ability to Deal with Disequilibria," Journal of Economic Literature, American Economic Association, vol. 13(3), pages 827-846, September.
- Cobb-Clark, D.A. & Connolly, M.D., 1996. "The Worldwide Market for Skilled Migrants: Can Australia Compete?," CEPR Discussion Papers 341, Centre for Economic Policy Research, Research School of Economics, Australian National University.
- Hamilton, Bob & Whalley, John, 1984. "Efficiency and distributional implications of global restrictions on labour mobility : Calculations and policy implications," Journal of Development Economics, Elsevier, vol. 14(1), pages 61-75.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July. Full references (including those not matched with items on IDEAS)
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