-economy distortions. Contrary to the world experience, in which life expectancy dominated, education has driven progress in African human … exclusively on education achievements. The large country variance of the recovery during the last decade suggests being cautious …

performance is nonlinear. The evidence supports the idea that progressive education promotes social capital. …

the labour market and underinvestment in education. A central insight is that the ex-post participation decision of … workers endogeneously generates increasing marginal returns to education. Although equilibrium implies underinvestment in … education, optimal policy is not to subsidise education. Instead it is to subsidise labour market participation which we argue …

financially support public education that would sustain their profit rates and would improve their economic well being, although …

finding is that over-investment in education may be even more of a problem in our mixed cooperative-non-cooperative model than …

unemployment rates. It may be the case that this locus is steep enough to generate increasing returns to education. This may lead … to multiple equilibria: a high-education equilibrium may coexist with a low-education equilibrium. In the former, the … Pareto-ranked, but the latter is preferred to the former by workers, while `savers' prefer the high-education equilibrium. …

This paper investigates whether individual decisions lead to equality of opportunity in education, defined in the …