We develop a classical macroeconomic model to examine the growth and distributional consequences of education. Contrary to the received wisdom, we show that human capital accumulation is not necessarily growth-inducing and inequality-reducing. Expansive education policies may foster growth and...

In the last decades, countries in Latin America and the Caribbean have experienced a dramatic increase in the levels of higher education enrollment. Using administrative data from Chile and Colombia, we find that this phenomenon is not always associated with higher private individual returns. In...

In spite of large structural expansions in higher education in Chile and Peru during the 1980s and 1990s, and a favourable growth context, levels of inequality are still very high in both countries and inequities in higher education persist. This paper investigates the role that higher education...