Public and Private Educational Expenditure and Human Capital Accumulation

Hiroki Tanaka and Masaya Yasuoka
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Hiroki Tanaka: Doshisha University

No 232, Discussion Paper Series from School of Economics, Kwansei Gakuin University

Abstract: This study was conducted to examine how the human capital stock of children is determined in a model for which human capital stock is produced by school education and private tutoring inputs. School education of two types is considered: public and private. Our paper presents consideration of substitution between school education and private tutoring. Although some reports of the related literature describe human capital accumulation including substitution between school education and the private tutoring, few studies have examined how education policy affects demand for school education. The human capital stock of children is determined in the model with substitution between school education and the private tutoring. Our paper presents consideration of human capital accumulation functions of several types: Constant elasticity of Substitution (CES), perfect substitution, and perfect complementarity between school education and private tutoring.

Keywords: Education Choice; Human Capital; Private Tutoring; Public and Private schooling; Subsidy (search for similar items in EconPapers)
JEL-codes: H52 I22 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2021-12
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Persistent link: https://EconPapers.repec.org/RePEc:kgu:wpaper:232

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