Logo
Munich Personal RePEc Archive

Public Subsidy on Education and Welfare in Small OECD Countries: A Theoretical and Empirical Reconciliation

Chaudhuri, Sarbajit and Biswas, Anindya (2015): Public Subsidy on Education and Welfare in Small OECD Countries: A Theoretical and Empirical Reconciliation.

[thumbnail of MPRA_paper_61593.pdf]
Preview
PDF
MPRA_paper_61593.pdf

Download (85kB) | Preview

Abstract

As per the conventional wisdom there should be provision for public assistance for skill acquirement for achieving higher economic growth in the future. However, empirical observations on small OECD countries over the period 2001-2011 tell somewhat a different story. This study makes an attempt in explaining those atypical findings, first theoretically by means of a simple dynamic two-sector, specific factor general equilibrium framework with endogenous skill formation and provision for public subsidy on education and then empirically with the help of conventional unbalanced panel data models. The analysis questions the desirability of the public subsidy policy on education in improving intertemporal social welfare in a small open developed economy.

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.