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Education supply, economic growth and the dynamics of skills*

Published online by Cambridge University Press:  17 August 2016

Vincent Barthélémy  and
Philippe Michel
Vincent Barthélémy
Affiliation:
GREQAM, Université de la Méditerranée
Philippe Michel
Affiliation:
IUF, GREQAM, Université de la Méditerranée and CORE, Louvain-la-Neuve, Belgium
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Summary

This paper examines the dynamics of the skill supply and its incidence oneconomic growth in the presence of education policies. When there areindivisibilities in the financing of human capital, small differences in theinitial distribution of skills may greatly affect the stationarydistribution: the economy may end up in a “low skill trap”, or in a highskill equilibrium. The model implies that for some ranges of initialdistributions there will be intergenerational immobility. Finally,cross-country differences in long-term macroeconomic adjustment to educationpolicies may be attributed, among other factors, to the existence of acongestion effect in the education system.

Résumé

Résumé

Cet article analyse la dynamique de l'ofrre de qualifications et sonincidence sur la croissance économique en présence de politiquesd'éducation. Quand il y a des indivisibilités dans le financement du capitalhumain, de petites différences dans la distribution initiale dequalifications peut influencer grandement la distribution stationnaire :l'économie peut tomber dans une « trappe de faible qualification », ouatteindre un équilibre « hautement qualifié ». Le modèle fait ressortir,pour certains intervalles relatifs à la distribution initiale, une totaleimmobilité intergénérationnelle. Finalement, des différences d'ajustementmacroéconomiques aux politiques éducatives selon les pays dans le long termepeuvent être attribuées, parmi d'autres facteurs, à l'existence d'un effetde congestion au sein du système éducatif.

Keywords

capital humaincroissanceéducationmobilité socialeI21I28O4growtheducationhuman capitalsocial mobilityI21I28O4

Information

Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 69 , Issue 2 , 2003 , pp. 145 - 165
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 2003 

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Footnotes

**

e-mail: vbarth@ehess.cnrs-mrs.fr. GREQAM, 2 rue de la Charité, 13002 Marseille, France

*

The authors wish to thank Cécilia García-Peñalosa, Pierre Pestieau,Jean-Pierre Vidal as well as the two anonymous referees for helpfulcomments and suggestions. The usual disclaimer applies.

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