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Risk, Resources, and Education—Public Versus Private Financing of Higher Education

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  • International Monetary Fund

Abstract

This paper develops a public education scheme that takes uncertainty aspects of private educational investments explicitly into account. In the author’s framework, the social merits of public education schemes are related to the lack of markets in which students can insure against educational risks. A case is made for tuition fees that depend on the expected returns of investments in education. The consideration of uncertainty provides a neglected link between educational choice, resource endowment, and productivity growth, which may serve to redefine the public role of education financing.

Suggested Citation

  • International Monetary Fund, 1999. "Risk, Resources, and Education—Public Versus Private Financing of Higher Education," IMF Working Papers 1999/174, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1999/174
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=3366
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    Cited by:

    1. Ing. Daša Vališová, 2009. "Theoretical Aspects Of Financing Higher Education," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(12), pages 111-116, April.

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