Growth and parental preference for education in China

doi:10.1016/j.jmacro.2016.07.002

CORC > 上海财经大学 > 上海财经大学

	Growth and parental preference for education in China
	Chu, Angus C.1,2; Furukawa, Yuichi 3; Zhu, Dongming 4,5
刊名	JOURNAL OF MACROECONOMICS
	2016-09
卷号	49 页码:192-202
关键词	Education Endogenous growth Human capital Innovation
ISSN号	0164-0704
DOI	10.1016/j.jmacro.2016.07.002
英文摘要	This study explores the implications of education preference in an innovation-driven growth model that features an interaction between endogenous technological progress and human capital accumulation. Parents invest in children's education partly due to the preference for their children to be educated. We consider a preference parameter that measures the degree of this cultural preference for education. We find that a society such as China in which parents place a high value on education accumulates more human capital, which is conducive to innovation, but the larger education investment also crowds out resources for R&D. As a result, a stronger cultural preference for education has an inverted-U effect on long-run growth. We also derive a closed-form solution for the transitional path of the equilibrium growth rate from any initial state and find that a strengthening of education preference causes an initial negative effect on growth. Finally, we consider a number of extensions to the benchmark model. (C) 2016 Elsevier Inc. All rights reserved.
WOS研究方向	Business & Economics
语种	英语
出版者	ELSEVIER SCIENCE BV
WOS记录号	WOS:000389106500011
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/1212]
专题	上海财经大学
通讯作者	Chu, Angus C.
作者单位	1.Fudan Univ, Sch Econ, China Ctr Econ Studies, Shanghai, Peoples R China; 2.Univ Liverpool, Sch Management, Liverpool, Merseyside, England; 3.Chukyo Univ, Sch Econ, Nagoya, Aichi, Japan; 4.Shanghai Univ Finance & Econ, Sch Econ, Shanghai, Peoples R China; 5.Shanghai Univ Finance & Econ, Key Lab Math Econ, Shanghai, Peoples R China
推荐引用方式 GB/T 7714	Chu, Angus C.,Furukawa, Yuichi,Zhu, Dongming. Growth and parental preference for education in China[J]. JOURNAL OF MACROECONOMICS,2016,49:192-202.
APA	Chu, Angus C.,Furukawa, Yuichi,&Zhu, Dongming.(2016).Growth and parental preference for education in China.JOURNAL OF MACROECONOMICS,49,192-202.
MLA	Chu, Angus C.,et al."Growth and parental preference for education in China".JOURNAL OF MACROECONOMICS 49(2016):192-202.