Education policy and R&D based growth in an overlapping generations model

Kohei Okada ()
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Kohei Okada: Graduate School of Economics, Osaka University

No 20-07, Discussion Papers in Economics and Business from Osaka University, Graduate School of Economics

Abstract: Employing an overlapping-generations model of R&D-based growth with endogenous education decision-making and government's education policy,we examine how government'seducation policy and human capital accumulation influence R&D activity. We show that an increase in government's public education expenditure has an inverted U-shaped effect on the growth rate at the steady state.We examine how increased public education expenditure affects welfare and show that an increase in the public education expenditure has an inverted U-shaped effect on the steady state level of welfare.

Keywords: Educationexpenditure; Humancapitalaccumulation; R&D (search for similar items in EconPapers)
JEL-codes: H52 I25 J24 O30 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2020-05
New Economics Papers: this item is included in nep-dge and nep-gro
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