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- Title
PARENTAL INTERVENTION TO CHILD'S EDUCATION CHOICE AND HUMAN CAPITAL ACCUMULATION.
- Authors
Kei Murata
- Abstract
This paper analyzes the interaction between the choice of public or private education and human capital accumulation by extending Cardak's (2004a) overlapping-generations model. Cardak (2004a) assumed that human capital is accumulated solely through parental level of human capital and educational expenditure. His production function for human capital becomes linear and does not have stable steady-state equilibrium when private education is provided. This study agrees that human capital accrues through parental level of human capital and educational expenditure, but also includes time span allocated to human capital accumulation, depending on Glomm and Ravikumar (1992). In Glomm and Ravikumar (1992), the time allocation is determined by individuals own, But in this paper, we assume that it is determined by parental intervention. We consider the realistic case of Cardak (2004) model that the production function for human capital becomes concave and has stable steady-state equilibrium when private education is provided. Moreover, we point out that there is no guarantee that parental intervention to child's education promotes nationwide accumulation of human capital and the efficiency of the policy to increase investment in public education on nationwide human capital accumulation depends on not only parental intervention but also private education in this model.
- Subjects
PARENT participation in education; PUBLIC education; PRIVATE education; HUMAN capital; EDUCATION costs
- Publication
Global Business & Economics Anthology, 2014, Vol 2, p312
- ISSN
1553-1392
- Publication type
Article