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We develop a simple macroeconomic model that assesses the effects of higher foreign aid on output growth and other macroeconomic variables, including the real exchange rate. The model is easily tractable and requires estimation of only a few basic parameters. It takes into account the impact of...
Persistent link: https://www.econbiz.de/10014403185
This paper presents an analysis of the determinants of private investment in the Caribbean region, using data for the … econometric model assessing the impact of education and other variables on the share of private investment in GDP. The empirical … formation. Public investment has a negative effect on private investment, while real interest rates and external debt burdens …
Persistent link: https://www.econbiz.de/10014397314
The prolonged investment decline in post-Asian crisis emerging Asia, in contrast to the swift recovery of economic … growth, has remained a puzzle. This paper shows that the post-crisis investment recession has been mainly concentrated in the …. Empirical results based on macro and firm-level data from Indonesia, Malaysia, and Thailand (ASEAN-3) support this hypothesis …
Persistent link: https://www.econbiz.de/10012670992
We discuss existing shortfalls and inequalities in the accumulation of human capital-knowledge, skills, and health. We analyze their immediate and systemic causes, and assess the scope for public intervention. The broad policy goals should be to improve: the quality, and not just the quantity,...
Persistent link: https://www.econbiz.de/10012518777
This paper develops a public education scheme that takes uncertainty aspects of private educational investments explicitly into account. In the author’s framework, the social merits of public education schemes are related to the lack of markets in which students can insure against educational...
Persistent link: https://www.econbiz.de/10014400865
The present paper takes a fresh theoretical and empirical look into the relationship between Wagner’s law and economic development. It introduces human capital into a classic two-sector model of unbalanced growth. It shows that, as an economy develops, changes in the relative returns to human...
Persistent link: https://www.econbiz.de/10014395897
This paper examines a two-sector aggregative growth model with human capital and educated unemployment. In the model, a tuition subsidy may lead to a long-run decline in the educated fraction of the population, because it may decrease the long-run per capita stock of physical capital in the...
Persistent link: https://www.econbiz.de/10014398068
capital investment. The increased enrollments raised the supply of schools, leading to continued schooling investment. Cross …
Persistent link: https://www.econbiz.de/10014399647
This paper uses a dynamic general equilibrium model calibrated to Ugandan data to examine the welfare effects of alternative scenarios of government expenditure and tax financing. Two expenditure types are considered: social spending that affects human capital, and infrastructure expenditures...
Persistent link: https://www.econbiz.de/10014399948
Persistent link: https://www.econbiz.de/10014400202