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Composition of Public Education Expenditures and Human Capital Accumulation

Katsuyuki Naito and Keigo Nishida

MPRA Paper from University Library of Munich, Germany

Abstract: This paper provides a simple theory to study how the allocation of public funds between primary and higher education affects human capital accumulation. The allocation is endogenously determined through majority voting. Public funding for higher education is not supported when a majority is poor. In some cases, higher education starts to be realized as a majority of individuals accumulate enough human capital through primary education. Although the emergence of higher education can accelerate aggregate human capital accumulation, it widens income inequality because the very poor are excluded from higher education and the declined budget share for primary education decreases its quality.

Keywords: Public Education; Economic Development; Income Inequality; Majority Voting (search for similar items in EconPapers)
JEL-codes: D72 O11 O15 O40 (search for similar items in EconPapers)
Date: 2012-06-22
New Economics Papers: this item is included in nep-cdm, nep-edu, nep-lab and nep-pbe
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https://mpra.ub.uni-muenchen.de/39603/1/MPRA_paper_39603.pdf original version (application/pdf)
https://mpra.ub.uni-muenchen.de/59185/1/MPRA_paper_39603.pdf revised version (application/pdf)

Related works:
Working Paper: Composition of Public Education Expenditures and Human Capital Accumulation (2012) Downloads
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