Private versus public financing of education and endogenous growth
Jean-Pierre Vidal () and
Michael Bräuninger ()
Additional contact information
Jean-Pierre Vidal: GREQAM, Centre National de la Recherche Scientifique, 2 rue de la Charité, 13002 Marseille, France
Journal of Population Economics, 2000, vol. 13, issue 3, 387-401
This paper examines interactions between education policy and growth. The analysis is carried out in an OLG model with two types of individuals: skilled and unskilled. An increase in public education reduces private costs of education, increases the proportion of skilled individuals, and tends to promote growth. On the other hand, education spending crowds out physical capital and reduces learning-by-doing. A marginal increase in the education subsidy can lower growth. It is yet shown that pure public education maximizes the long-run growth rate. Importantly, a partial subsidy to education can result in lower growth than pure private education.
Keywords: Growth; ·; education; ·; inequality; ·; overlapping; generations (search for similar items in EconPapers)
JEL-codes: E10 O40 O41 F43 (search for similar items in EconPapers)
Note: Received: 7 March 1999/Accepted: 25 November 1999
References: Add references at CitEc
Citations: View citations in EconPapers (15) Track citations by RSS feed
Downloads: (external link)
Access to the full text of the articles in this series is restricted
Working Paper: Private Versus Public Financing of Education and Endogenous Growth (1999)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:jopoec:v:13:y:2000:i:3:p:387-401
Ordering information: This journal article can be ordered from
http://www.springer. ... tion/journal/148/PS2
Access Statistics for this article
Journal of Population Economics is currently edited by K.F. Zimmermann
More articles in Journal of Population Economics from Springer, European Society for Population Economics Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla ().