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Production And Consumption Of Education In A R&D‐Based Growth Model

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  • Juntip Boonprakaikawe
  • Frédéric Tournemaine

Abstract

We develop a R&D‐based growth model with endogenous accumulation of human capital. We investigate the idea that education is a good entering in the preferences of individuals. We seek to analyse how the decisions of individuals to invest in human capital can be altered by changes in economic policies and how they can be reflected on the level of growth in the long run. We show that policy changes affect growth through their effect on the decision of individuals to invest in human capital. The effects obtained depend whether individuals enjoy to acquire education or if they consider it as a ‘bad’. In the absence of any policy intervention, the level of growth can be excessive or insufficient compared with the optimum.

Suggested Citation

  • Juntip Boonprakaikawe & Frédéric Tournemaine, 2006. "Production And Consumption Of Education In A R&D‐Based Growth Model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 53(5), pages 565-585, November.
    • Handle: RePEc:bla:scotjp:v:53:y:2006:i:5:p:565-585
    DOI: 10.1111/j.1467-9485.2006.00395.x
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    References listed on IDEAS

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    1. Annette Alstadsæter, 2011. "Measuring the Consumption Value of Higher Education," CESifo Economic Studies, CESifo Group, vol. 57(3), pages 458-479, September.
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    Cited by:

    1. Creina Day, 2016. "Non-Scale Endogenous Growth with R&D and Human Capital," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(5), pages 443-467, November.
    2. Grimaud, Andre & Tournemaine, Frederic, 2007. "Why can an environmental policy tax promote growth through the channel of education?," Ecological Economics, Elsevier, vol. 62(1), pages 27-36, April.
    3. repec:ebl:ecbull:v:15:y:2007:i:8:p:1-7 is not listed on IDEAS
    4. Frederic Tournemaine & Pongsak Luangaram, 2012. "R&D, human capital, fertility, and growth," Journal of Population Economics, Springer;European Society for Population Economics, vol. 25(3), pages 923-953, July.
    5. Frederic Tournemaine, 2007. "Can population promote income per-capita growth? A balanced perspective," Economics Bulletin, AccessEcon, vol. 15(8), pages 1-7.

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