Castelló-Climent, Amparo; Hidalgo-Cabrillana, Ana - In: Economics of Education Review 31 (2012) 4, pp. 391-409
We develop a theory of human capital investment to study the effects of school quality on student choices of education, and to understand its effect on economic growth. In a dynamic general equilibrium closed economy, primary education is mandatory but there is an opportunity to continue to...