scholarly journals Optimal Education Policy and Human Capital Accumulation in the Context of Brain Drain

2018 ◽  
Author(s):  
Slobodan Djajic ◽  
Frédéric Docquier ◽  
Michael S. Michael
Keyword(s):  
Human Capital ◽  
Education Policy ◽  
Brain Drain ◽  
Capital Accumulation ◽  
Human Capital Accumulation

Path from human capital to economic growth: A free highway or a complicated labyrinth?

2017 ◽  
pp. 5-23 ◽  
Author(s):  
I. Lyubimov
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Education Policy ◽  
Financial Markets ◽  
Capital Accumulation ◽  
Human Capital Accumulation ◽  
Limited Effect ◽  
Rights Protection ◽  
Property Rights Protection

In this paper, we consider a number of causes which can potentially explain why human capital accumulation policies might have limited effect on economic growth. Mixed empirical results can be found in the literature, both supporting and questioning the key role of human capital as an important cause of economic growth. We focus on the latter and start from pointing at inaccurate indicators of human capital accumulation, such as the average years of schooling, which might not reflect with acceptable level of accuracy the level of human capital accumulated in a particular economy. We then consider the role of other causes of economic growth, such as property rights protection or financial markets development, which might affect the demand for human capital, thus potentially limiting the effect of a policy affecting the supply of human capital. We then discuss the efficiency of human capital distribution among various activities in a particular economy and argue that the way the economy uses its human capital stock might matter for its growth rates. Finally we point at potential flaws in education policy, which might result in slow accumulation of human capital.

scholarly journals Optimal education policy and human capital accumulation in the context of brain drain

2019 ◽  
Vol 85 (4) ◽  
pp. 271-303 ◽  
Author(s):  
Slobodan Djajić ◽  
Frédéric Docquier ◽  
Michael S. Michael
Keyword(s):  
Human Capital ◽  
Education Policy ◽  
Immigration Policy ◽  
Brain Drain ◽  
Capital Accumulation ◽  
Positive Response ◽  
Emigration Rate ◽  
Earning Differential ◽  
Career Opportunities ◽  
Game Theoretic

AbstractThis paper revisits the question of how brain drain affects the optimal education policy of a developing economy. Our framework of analysis highlights the complementarity between public spending on education and students' efforts to acquire human capital in response to career opportunities at home and abroad. Given this complementarity, we find that brain drain has conflicting effects on the optimal provision of public education. A positive response is called for when the international earning differential with destination countries is large, and when the emigration rate is relatively low. In contrast with the findings in the existing literature, our numerical experiments show that these required conditions are in fact present in a large number of developing countries; they are equivalent to those under which an increase in emigration induces a net brain gain. As a further contribution, we study the interaction between the optimal immigration policy of the host country and education policy of the source country in a game-theoretic framework.

scholarly journals Education policy in South Korea: A contemporary model of human capital accumulation?

2017 ◽  
Vol 5 (1) ◽  
pp. 1389804 ◽  
Author(s):  
Patrik Hultberg ◽  
David Santandreu Calonge ◽  
Seong-Hee Kim ◽  
Sergio Rossi
Keyword(s):  
Human Capital ◽  
Education Policy ◽  
South Korea ◽  
Capital Accumulation ◽  
Human Capital Accumulation

Human Capital Accumulation and Resource Abundance

2011 ◽  
pp. 66-77
Author(s):  
O. Vasilieva
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Capital Accumulation ◽  
Relevant Literature ◽  
Harmful Effect ◽  
Human Capital Accumulation ◽  
Resource Abundance ◽  
Empirical Results ◽  
Theoretical Predictions ◽  
Crowd Out

Does resource abundance positively affect human capital accumulation? Or, alternatively, does it «crowd out» the human capital leading to the deterioration of economic growth? The paper gives an overview of the relevant literature and discusses both theoretical and empirical results obtained regarding the connection between human capital accumulation and resource abundance. It shows that despite some theoretical predictions about the harmful effect of resource abundance on human capital accumulation, unambiguous evidence of such impact that would be robust with respect to the change of resource abundance parameter has not been obtained yet.

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