Private versus Social Returns to Human Capital: Education and Economic Growth in India

Matthias Schundeln and John Playforth
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Matthias Schundeln: Harvard University
John Playforth: Harvard Law School

No 626, 2008 Meeting Papers from Society for Economic Dynamics

Abstract: Our findings indicate that the growth in educational capital in India in the period 1961 to 2001 had a positive effect on both economic growth at the state level and on industry growth at the industry level in states with small governments, but no statistically significant effect in states with a large share of government workers. Overall, the findings are consistent with a theory in which large governments are soaking up many educated individuals without them having positive effects on economic growth.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed008:626

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