Implications of Quality of Schooling on Economic Growth and Convergence – A System Dynamics Perspective

Meeta Mehra () and Swati Saini

Global Economic Review, 2020, vol. 49, issue 1, 97-126

Abstract: This paper formulates a growth model to study the interlinkages among quality of schooling, human capital and technical progress of a stylised developing economy such as India. The simulation results reveal that under the technology regimes of innovation and imitation, the quality of schooling triggers a child quantity–quality trade-off wherein parents invest in educating their children and bear lesser number of children when schooling quality exceeds an endogenously determined threshold. Consequently, the stylised economy reaches a self-sustaining growth path under both the regimes by investing in human capital of the young generation in the long run.

Date: 2020
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DOI: 10.1080/1226508X.2019.1699845

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