Human Capital Productivity, Endogenous Growth, And Welfare: The Role Of Uncertainty

Mbaye Diene, Bity Diene and Théophile Azomahou
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Mbaye Diene: UCAD - Université Cheikh Anta Diop de Dakar [Sénégal]
Bity Diene: CERDI - Centre d'Études et de Recherches sur le Développement International - UCA [2017-2020] - Université Clermont Auvergne [2017-2020] - CNRS - Centre National de la Recherche Scientifique
Théophile Azomahou: CERDI - Centre d'Études et de Recherches sur le Développement International - UCA [2017-2020] - Université Clermont Auvergne [2017-2020] - CNRS - Centre National de la Recherche Scientifique

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Abstract: Several policies or interventions have been implemented in developing countries with the ultimate goal of improving educational outcomes and human capital. Although many empirical studies have pointed to mixed results of these interventions, the role of uncertainty arising from the state of nature about the educational environment and household characteristics in the efficiency of these interventions still lacks an economic mechanism. This paper aims at developing a theoretical framework that links policy interventions to educational outcomes.We characterize optimal policies and determine the conditions for enhancing social welfare.

Keywords: Educational Outcome; Policy Interventions; Social Welfare (search for similar items in EconPapers)
Date: 2016-12
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Published in Macroeconomic Dynamics, 2016, 20 (08), pp.2067 - 2092. ⟨10.1017/S1365100515000309⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01687413

DOI: 10.1017/S1365100515000309

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