Human capital productivity and uncertainty

Bity Diene () and Mbaye Diene
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Bity Diene: Université d'Auvergne(UdA)

No 201508, Working Papers from CERDI

Abstract: Several policies or interventions have been implemented in developing countries with the ultimate goal of improving educational outcomes and human capital. While lots of empirical studies have pointed to mixed results of these interventions, the role of uncertainty arising from the state of the nature about educational environment, household characteristics, along- side the efficiency of these interventions still lack economic mechanism. This paper aims at developing a theoretical framework that links policy interventions to educational outcomes. We characterize optimal policies and determine the conditions for enhancing social welfare. We also study the optimal growth of the economy under uncertainty and population heterogeneity when human capital is produced and used in the education sector. We show that the growth rate of the unskilled population has a direct impact on the growth of human and physical capitals.

Keywords: Educational outcome; Policy interventions; Social welfare; Skilled and unskilled labor; Endogenous growth (search for similar items in EconPapers)
JEL-codes: C61 I25 I31 J13 O15 (search for similar items in EconPapers)
Pages: 32
Date: 2015-04
New Economics Papers: this item is included in nep-gro and nep-hrm
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