In this paper, we empirically test the role that religious and political institutions play in the accumulation of human capital. Using a new data set on literacy in colonial India, we find that Muslim literacy is negatively correlated with the proportion of Muslims in the district, although we...

This paper studies the long-run macroeconomic, distributional and welfare effects of tuition policy and student loans. We therefore form a rich model of risky human capital investment based on the seminal work of Heckman, Lochner and Taber (1998). We extend their original model by variable labor...

The East African Community members' strategy is focused on achieving smart, sustainable, and inclusive economic growth. This cannot be achieved without the major contribution of skills, knowledge, and innovation, commonly known as human capital formation. It is difficult to believe that these...

This paper proposes two alternative models of intergenerational transfers linking parental investment in human capital of children to old-age support. The first model formulates these transfers as a pure loan contract and the second model as self-enforcing reciprocity. Both models predict...

This paper formulates and estimates a dynamic programming model of the optimal educational financing decisions and post-graduation career choices of law school graduates. The main purpose of the paper is to measure the effect of short-term parental cash transfers, received during school, on...

This paper examines the impacts of international remittances on child human capital investments of households by presenting evidence from Turkey. Remittances by alleviating resource constraints may allow higher consumption and productive investments for the household. On the other hand,...

Labour engagement, underutilization and unemployment has dominated discourse in development literature in developing economies. It tangentially dictates the direction of migration, gross domestic output and in some cases, youth restiveness. This study investigated the unique relationship between...

In this paper, we investigate the responsiveness of the demand for college to changes in student aid arising from a Danish reform. We separately identify the effect of aid from that of other observed and unobserved variables such as parental income. We exploit the combination of a kinked aid...

We study human capital accumulation in an environment of competitive search. Given that unemployed workers can default on their education loans, skilled individuals with a larger debt burden prefer riskier but better paid careers than is socially desirable. A higher level of employment risk in...

A whole branch of the economic literature suggests that institutional differences between and inside educational systems may have a larger influence on students performance than the amount of resources devoted to schooling. In this paper, we use the PISA 2000 international OECD data to evaluate...