HUMAN CAPITAL PRODUCTIVITY, ENDOGENOUS GROWTH, AND WELFARE: THE ROLE OF UNCERTAINTY

Abstract : Several policies or interventions have been implemented in developing countries with the ultimate goal of improving educational outcomes and human capital. Although many empirical studies have pointed to mixed results of these interventions, the role of uncertainty arising from the state of nature about the educational environment and household characteristics in the efficiency of these interventions still lacks an economic mechanism. This paper aims at developing a theoretical framework that links policy interventions to educational outcomes.We characterize optimal policies and determine the conditions for enhancing social welfare.
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Article dans une revue
Macroeconomic Dynamics, Cambridge University Press (CUP), 2016, 20 (08), pp.2067 - 2092. 〈10.1017/S1365100515000309〉
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https://hal.archives-ouvertes.fr/hal-01687413
Contributeur : Cerdi Etudes & Documents - Publications <>
Soumis le : jeudi 18 janvier 2018 - 14:38:59
Dernière modification le : lundi 24 septembre 2018 - 17:28:02

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Mbaye Diene, Bity Diene, Theophile Azomahou. HUMAN CAPITAL PRODUCTIVITY, ENDOGENOUS GROWTH, AND WELFARE: THE ROLE OF UNCERTAINTY. Macroeconomic Dynamics, Cambridge University Press (CUP), 2016, 20 (08), pp.2067 - 2092. 〈10.1017/S1365100515000309〉. 〈hal-01687413〉

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