Using both quantitative and qualitative indicators of a few key parameters that define educational development, such as literacy, enrollment ratios in primary, secondary and higher levels of education, out-of-school children, inequalities, quality of teachers, public funding, international aid...

This paper considers education investment and public education subsidies in closed and open economies with an extortionary government. The extortionary government in a closed economy has incentives to subsidize education in order to overcome a hold-up problem of time consistent taxation, similar...