Education, structural change and economic development

Pier Paolo Saviotti, Andreas Pyka and Bogang Jun

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Abstract: In this paper we explore the role that can be played by education in economic development using a model called TEVECON. Within the population of our economic system we distinguish two different social classes which differ for their level and quality of education and, as a consequence, for their human capital, wages and income per head. We vary the investment in education as a share of total investment, the share of investment in education allocated to each social class, and the quality of education each class receives. We show that while education can exert a positive effect on social mobility by increasing the population share of the upper social class it also leads to a tradeoff between income inequality and the rate of growth of income. These results are obtained based only on education and do not take into account any wealth effects.

Date: 2016-09
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Citations: View citations in EconPapers (12)

Published in Structural Change and Economic Dynamics, 2016, 38 (September), pp.55-68. ⟨10.1016/j.strueco.2016.04.002⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02097591

DOI: 10.1016/j.strueco.2016.04.002

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