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The Role of Education Supply in Economic Growth and the Dynamics of Skills

  • Barthelemy, V.
  • Michel, P.

This paper analyzes the role of the structure of skills in economic development through investment in human capital. With a lack of credit market for education and the presence of indivisibilities in investment in human capital as well as of a congestion effect of the educational system, the initial distribution of skills affect aggregate output and investment both in the short and the in the long run, as there multiple balanced growth paths. This paper provides an additional explanation for the persistent differences in per-capita output across countries. Moreover, it shows that cross-country differences in macroeconomic adjustments to educational policies can be attributed,among other factors, to differences in the distribution of skills.

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Paper provided by Universite Aix-Marseille III in its series G.R.E.Q.A.M. with number 99a15.

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Length: 24 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:fth:aixmeq:99a15
Web page:

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  1. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  2. Oded Galor & Joseph Zeira, 2013. "Income Distribution and Macroeconomics," Working Papers 2013-12, Brown University, Department of Economics.
  3. Tamura, Robert, 1991. "Income Convergence in an Endogenous Growth Model," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 522-40, June.
  4. repec:tpr:qjecon:v:106:y:1991:i:2:p:407-43 is not listed on IDEAS
  5. Robert J. Barro, 1989. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
  6. Benabou, Roland, 1996. "Heterogeneity, Stratification, and Growth: Macroeconomic Implications of Community Structure and School Finance," American Economic Review, American Economic Association, vol. 86(3), pages 584-609, June.
  7. Fershtman, Chaim & Murphy, Kevin M & Weiss, Yoram, 1996. "Social Status, Education, and Growth," Journal of Political Economy, University of Chicago Press, vol. 104(1), pages 108-32, February.
  8. Mark Gradstein & Moshe Justman, 1996. "The political economy of mixed public and private schooling: A dynamic analysis," International Tax and Public Finance, Springer, vol. 3(3), pages 297-310, July.
  9. Zvi Eckstein & Itzhak Zilcha, 1991. "The Effects of Compulsory Schooling on Growth, Income Distribution and Welfare," Boston University - Institute for Economic Development 20, Boston University, Institute for Economic Development.
  10. Banerjee, Abhijit V & Newman, Andrew F, 1993. "Occupational Choice and the Process of Development," Journal of Political Economy, University of Chicago Press, vol. 101(2), pages 274-98, April.
  11. Galor, Oded & Ryder, Harl E., 1989. "Existence, uniqueness, and stability of equilibrium in an overlapping-generations model with productive capital," Journal of Economic Theory, Elsevier, vol. 49(2), pages 360-375, December.
  12. Chiu, W Henry, 1998. "Income Inequality, Human Capital Accumulation and Economic Performance," Economic Journal, Royal Economic Society, vol. 108(446), pages 44-59, January.
  13. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 818-34, August.
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