Public and Private Expenditures on Human Capital Accumulation in India

Chetan Ghate, Gerhard Glomm and John T. Stone

No wp-2015-024, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: We study a model of human capital driven growth, where the parent's human capital serves as a productive input in the child's human capital production only when that of the former exceeds a minimum level required to intellectually contribute to the child's learning. Private and public expenditures on education enter in the child's human capital production function, and are allowed to vary in terms of substitutability and relative productivity. Households receive income from labor and face both labor and consumption taxes.

Keywords: Economic growth; Education; Equality and inequality; Human capital; Taxation (search for similar items in EconPapers)
Date: 2015
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Related works:
Working Paper: Public and private expenditures on human capital: Accumulation in India (2014)
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