Education and Income Growth: Implications for Cross-Country Inequality

Donal O'Neill

Journal of Political Economy, 1995, vol. 103, issue 6, 1289-1301

Abstract: This paper examines the extent to which patterns of human capital convergence can account for observed patterns of income inequality between countries. The author decomposes national income into three components: one due to education levels, one reflecting the return to education, and a residual component. He then examines the contribution of each to changes in income dispersion. Among the developed countries, convergence in education levels has resulted in a reduction in income dispersion. However, for the world as a whole, incomes have diverged despite substantial convergence in education levels. Copyright 1995 by University of Chicago Press.

Date: 1995
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