Risk, Resources, and Education: Public Versus Private Financing of Higher Education

Berthold Wigger () and Robert K. von Weizs?cker
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Robert K. von Weizs?cker: International Monetary Fund

IMF Staff Papers, 2001, vol. 48, issue 3, 6

Abstract: The paper develops a public education scheme that takes aspects of uncertainty in private educational investments explicitly into account. The social merits of public education schemes are related to the lack of markets in which students can insure against educational risks. A case is made for tuition fees that depend on expected returns of investments in education. The consideration of uncertainty provides a neglected link between educational choice, resource endowment, and productivity growth, which may serve to redefine the public role of education financing. Copyright 2002, International Monetary Fund

JEL-codes: D81 H52 I22 (search for similar items in EconPapers)
Date: 2001
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