The political economy of education and development in an open economy
Bourguignon, François and Verdier, Thierry (2005) The political economy of education and development in an open economy. Review of International Economics, 13, (3), 529. (doi:10.1111/j.1467-9396.2005.00522.x).
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Description/Abstract
If the price effect of opening up a developing economy may be expected to act as a disincentive for investment in human capital, the opposite is likely to be true of the income effect, especially in the presence of credit market imperfections among the poor.
It is shown in this paper that this may no longer be the case in a society initially dominated by an oligarchic capitalist elite that is afraid of losing its political control in favor of an educated middle class.
Although it may sometimes be in its interest to democratize by subsidizing education when the economy is closed, incentives to do so disappear when the economy is open to trade or factor flows.
| Item Type: | Article |
|---|---|
| ISSNs: | 0965-7576 (print) |
| Related URLs: | |
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Divisions: | University Structure - Pre August 2011 > School of Social Sciences > Economics |
| Item ID: | 39783 |
| Date Deposited: | 29 Jun 2006 |
| Last Modified: | 02 Mar 2012 12:07 |
| Contributors: | Bourguignon, François (Author) Verdier, Thierry (Author) |
| Date: | 2005 |
| Status: | Published |
| Contact Email Address: | verdier@delta.ens.fr |
| URI: | http://eprints.soton.ac.uk/id/eprint/39783 |
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