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Education Policies and Structural Transformation

Listed author(s):
  • Cavalcanti Ferreira, Pedro

    (EPGE/FGV)

  • Monge-Naranjo, Alexander

    (Federal Reserve Bank of St. Louis)

  • Torres de Mello Pereira, Luciene

    (EPGE/FGV)

This article studies the impact of education and fertility in structural transformation and growth. In the model there are three sectors, agriculture, which uses only low-skill labor, manufacturing, that uses high-skill labor only and services, that uses both. Parents choose optimally the number of children and their skill. Educational policy has two dimensions, it may or may not allow child labor and it subsidizes education expenditures. The model is calibrated to South Korea and Brazil, and is able to reproduce some key stylized facts observed between 1960 and 2005 in these economies, such as the low (high) productivity of services in Brazil (South Korea) which is shown to be a function of human capital and very important in explaining its stagnation (growth) after 1980. We also analyze how different government policies towards education and child labor implemented in these countries affected individuals’ decisions toward education and the growth trajectory of each economy.

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Paper provided by Federal Reserve Bank of St. Louis in its series Working Papers with number 2014-39.

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Length: 51 pages
Date of creation: 29 Oct 2014
Handle: RePEc:fip:fedlwp:2014-039
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  1. Andrés Erosa & Tatyana Koreshkova & Diego Restuccia, 2010. "How Important Is Human Capital? A Quantitative Theory Assessment of World Income Inequality," Review of Economic Studies, Oxford University Press, vol. 77(4), pages 1421-1449.
  2. Matthias Doepke, 2004. "Accounting for Fertility Decline During the Transition to Growth," Journal of Economic Growth, Springer, vol. 9(3), pages 347-383, 09.
  3. David de la Croix & Matthias Doepke, 2003. "Inequality and Growth: Why Differential Fertility Matters," American Economic Review, American Economic Association, vol. 93(4), pages 1091-1113, September.
  4. Larry E. Jones & Alice Schoonbroodt & Michèle Tertilt, 2010. "Fertility Theories: Can They Explain the Negative Fertility-Income Relationship?," NBER Chapters,in: Demography and the Economy, pages 43-100 National Bureau of Economic Research, Inc.
  5. repec:cor:louvrp:-1676 is not listed on IDEAS
  6. Betts, Caroline & Giri, Rahul & Verma, Rubina, 2013. "Trade, Reform, And Structural Transformation in South Korea," MPRA Paper 49540, University Library of Munich, Germany.
  7. Pedro Ferreira & Alejandro Badel & Alexander Monge-Naranjo, 2013. "Human Capital and the Urban and Structural Transformation of Countries," 2013 Meeting Papers 704, Society for Economic Dynamics.
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