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- Title
HOME LEARNING, 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 (2004) 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 individuals' time span allocated to human capital accumulation, depending on Glomm and Ravikumar (1992). We assume that the time allocation is determined by both home learning and schooling. We consider the realistic case of Cardak (2004a) 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 assurance that the policy to increase investment in public education promotes nationwide human capital accumulation and there is no effect of the policy to increase the time allocation in schooling under public education on nationwide human capital accumulation in this model.
- Subjects
HUMAN capital; PUBLIC education; PRIVATE education; HOME schooling research; PARENT participation in education
- Publication
Global Business & Economics Anthology, 2014, Vol 2, p238
- ISSN
1553-1392
- Publication type
Article