Hostname: page-component-65b85459fc-4f4fx Total loading time: 0 Render date: 2025-10-16T21:05:46.465Z Has data issue: false hasContentIssue false
  • English
  • Français

Education supply, economic growth and the dynamics of skills*

Published online by Cambridge University Press:  17 August 2016

Vincent Barthélémy  and
Philippe Michel
Vincent Barthélémy
Affiliation:
GREQAM, Université de la Méditerranée
Philippe Michel
Affiliation:
IUF, GREQAM, Université de la Méditerranée and CORE, Louvain-la-Neuve, Belgium
Get access

Summary

This paper examines the dynamics of the skill supply and its incidence oneconomic growth in the presence of education policies. When there areindivisibilities in the financing of human capital, small differences in theinitial distribution of skills may greatly affect the stationarydistribution: the economy may end up in a “low skill trap”, or in a highskill equilibrium. The model implies that for some ranges of initialdistributions there will be intergenerational immobility. Finally,cross-country differences in long-term macroeconomic adjustment to educationpolicies may be attributed, among other factors, to the existence of acongestion effect in the education system.

Résumé

Résumé

Cet article analyse la dynamique de l'ofrre de qualifications et sonincidence sur la croissance économique en présence de politiquesd'éducation. Quand il y a des indivisibilités dans le financement du capitalhumain, de petites différences dans la distribution initiale dequalifications peut influencer grandement la distribution stationnaire :l'économie peut tomber dans une « trappe de faible qualification », ouatteindre un équilibre « hautement qualifié ». Le modèle fait ressortir,pour certains intervalles relatifs à la distribution initiale, une totaleimmobilité intergénérationnelle. Finalement, des différences d'ajustementmacroéconomiques aux politiques éducatives selon les pays dans le long termepeuvent être attribuées, parmi d'autres facteurs, à l'existence d'un effetde congestion au sein du système éducatif.

Keywords

capital humaincroissanceéducationmobilité socialeI21I28O4growtheducationhuman capitalsocial mobilityI21I28O4

Information

Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 69 , Issue 2 , 2003 , pp. 145 - 165
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 2003 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Article purchase

Temporarily unavailable

Footnotes

**

e-mail: vbarth@ehess.cnrs-mrs.fr. GREQAM, 2 rue de la Charité, 13002 Marseille, France

*

The authors wish to thank Cécilia García-Peñalosa, Pierre Pestieau,Jean-Pierre Vidal as well as the two anonymous referees for helpfulcomments and suggestions. The usual disclaimer applies.

References

Acemoglu, D. (1996), “A microfoundation for social increasing returns in human capital accumulation”, Quaterly Journal of Economics, pp.779–804.Google Scholar
Azariadis, C. and Drazen, A. (1990), “Threshold externalities in economic development”, Quaterly Journal of Economics, pp 501–526.Google Scholar
Azariadis, C. (1996), “The economics of poverty traps part one:complete markets”, Journal of Economic Growth, 1(4), pp 449–486.Google Scholar
Becker, G., Murphy, K., and Tamura, R. (1990), “Human capital, fertility, and economic growth”, Journal of Political Economy, 98(5), pp.S12–S37.Google Scholar
Bénabou, R. (1996), “Heterogeneity, stratification, and growth: macroeconomic implications of community structure and school finance”, The American Economic Review, 86(3), pp.584–609.Google Scholar
Card, D. and Krueger, A.B. (1992), “Does school quality matter? Returns to education and the characteristics of public schools in the United States”, Journal of Political Economy, 100(1), pp.1–40.Google Scholar
Chiu, W.H. (1998), “Income inequality, human capital accumulation and economic performance”, Economic Journal, 108, pp.44–59.Google Scholar
Eckstein, Z. and Zilcha, I. (1994), “The effects of compulsory schooling on growth, income distribution and welfare, Journal of Public Economics, 54, pp.339–359.Google Scholar
Eicher, T. and García-Peñalosa, C. (1999), “Inequality and growth: the dual role of human capital in development”, Working Paper, GREQAM, n° 99A47.Google Scholar
Galor, O. and Zeira, J. (1993), “Income distribution and macroeconomics”, Review of Economic Studies, 60, pp.35–52.Google Scholar
Glomm, G. and Ravikumar, B. (1992), “Public versus private investment in human capital: endogenous growth and income inequality”, Journal of Political Economy, 100(4), pp.818–834.Google Scholar
Hanushek, E.E., Rivkin, S.G., and Taylor, L.L. (1996), “Aggregation and the estimated effects of school resources”, Review of Economics and Statistics, pp.611–627.Google Scholar
Loury, G.C. (1981), “Intergenerational transfers and the distribution of earnings”, Econometrica, 49(4), pp.843–867.Google Scholar
Lucas, R.E. (1988), “On the mechanics of economic development”, Journal of Monetary Economics, 22, pp.3–42.Google Scholar
Phelps, E.S. and Zoega, G. (1996), “The incidence of increased unemployment in the group of seven, 1970–1994”, Discussion Paper n° 21, Birbeck College.Google Scholar
Redding, S. (1996), “The low-skill, low-quality trap : strategic complementarities between human capital and R&D”, Economic Journal, 106,pp.458–470.Google Scholar
Rostow, W. (1960), The stages of economic growth, Cambridge, Cambridge University Press.Google Scholar
Sander, W. (1993), “Expenditures and student achievement in Illinois”, Journal of Public Economics, 52, pp.403–416.Google Scholar