In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to this change

We study the accumulation of human capital and the behavior of consumption and earnings in a life cycle equilibrium model with endogenous borrowing constraints. Constraints arise endogenously from the inalienability of human capital and the limited punishments that creditors are able to impose...

The role of improved schooling, a central part of most development strategies, has become controversial because expansion of school attainment has not guaranteed improved economic conditions. This paper reviews the role of education in promoting economic wellbeing, with a particular focus on the...

This study uses a large-scale dataset from Vietnam to analyze the impacts of parental absence due to migration, death, or divorce on children's school enrollment, for children aged from 7 to 22. We find children from two-parent families have a better chance of enrolling at all levels of...

Maddison's international panel data show that technically it was the faster growth rate of the US economy that led to its overtaking the UK as economic superpower. We explore the contributing factors. Identifying the land-grant colleges system triggered by the 1862/1890 Morrill Acts (MAs) as a...

Schooling is a major factor in economic development. There is a large empirical literature on what determines schooling attainment. But most of this literature uses micro data to explore connections between schooling attainment and family background and experiences, local markets, local schools...