Human capital, growth, and inequality in Russia

Chengze, Simon FAN, Jody OVERLAND, Michael SPAGAT

Research output: Journal PublicationsJournal Article (refereed)

18 Citations (Scopus)

Abstract

Our model captures the fact that Russia has both much human capital and an education system that produces the wrong skills for a market economy. We define a rule for the timing of educational restructuring that is Pareto optimal and that dominates all later times in a Paretian sense while simultaneously reducing inequality. We demonstrate that failure to implement restructuring early in the transition process is likely to produce a very long delay that will significantly reduce Russia's human capital. A retreat from subsidizing public education is Likely to be counterproductive, We argue that early educational restructuring should be emphasized in Russia's transition strategy.
Original languageEnglish
Pages (from-to)618-643
Number of pages26
JournalJournal of Comparative Economics
Volume27
Issue number4
DOIs
Publication statusPublished - 1 Dec 1999

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Capital growth
Russia
Human capital
Education
Public education
Transition process
Education system
Market economy

Cite this

FAN, Chengze, Simon ; OVERLAND, Jody ; SPAGAT, Michael. / Human capital, growth, and inequality in Russia. In: Journal of Comparative Economics. 1999 ; Vol. 27, No. 4. pp. 618-643.
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Human capital, growth, and inequality in Russia. / FAN, Chengze, Simon; OVERLAND, Jody; SPAGAT, Michael.

In: Journal of Comparative Economics, Vol. 27, No. 4, 01.12.1999, p. 618-643.

Research output: Journal PublicationsJournal Article (refereed)

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AB - Our model captures the fact that Russia has both much human capital and an education system that produces the wrong skills for a market economy. We define a rule for the timing of educational restructuring that is Pareto optimal and that dominates all later times in a Paretian sense while simultaneously reducing inequality. We demonstrate that failure to implement restructuring early in the transition process is likely to produce a very long delay that will significantly reduce Russia's human capital. A retreat from subsidizing public education is Likely to be counterproductive, We argue that early educational restructuring should be emphasized in Russia's transition strategy.

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