Columbia or High School? Understanding the Roles of Education in Development

43 Pages Posted: 29 Jan 2006

See all articles by Rodney Ramcharan

Rodney Ramcharan

University of Southern California, Marshall School of Business

Date Written: February 2002

Abstract

No country has achieved sustained economic development without investment in education. Thus, education policy can play a vital role in facilitating development. But which types of schooling - secondary or tertiary - should public policy promote? This paper develops an analytical framework to address this question. It shows how the composition of human capital stock determines a country`s development. Hence, promoting the wrong type of schooling can have little effect on development. In addition to identifying some characteristics of an optimal education policy, the paper helps in understanding why empirical studies have failed to find a significant relationship between schooling and growth.

Keywords: education, development, growth

JEL Classification: 011, 041, I20

Suggested Citation

Ramcharan, Rodney, Columbia or High School? Understanding the Roles of Education in Development (February 2002). IMF Working Paper, Vol. , pp. 1-43, 2002. Available at SSRN: https://ssrn.com/abstract=879408

Rodney Ramcharan (Contact Author)

University of Southern California, Marshall School of Business ( email )

2250 Alcazar Street
Los Angeles, CA 90089
United States

HOME PAGE: http://https://sites.google.com/site/rodneyramcharan/

Register to save articles to
your library

Register

Paper statistics

Downloads
45
Abstract Views
465
PlumX Metrics