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Estimates of the effect of education on GDP (the social return) have been hard to reconcile with micro evidence on the private return to schooling. We present a simple explanation combining two ideas: imperfect substitution and endogenous skill-biased technological progress and use cross-country...
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parental human capital;intergenerational transfers, accomplished via investment in the education of the younger generation …
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place via public investment in education financed by tax, and parental education; (3) due to variation in individual human …
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A recently much debated issue is why observed investment and growth rates inpoor countries are lower than traditional … theory predicts. Empirical evidencesuggests that social and political instability is a major reason for thedivergence between … investment rates is notmonotonic but follows a hump-shaped pattern. The empirical evidence shows thatalthough very poor economies …
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investments in education financed by taxes(possibly, with a level determined by majority voting); (3) due to investment inhuman …
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