Abstract
Original language | English |
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Pages (from-to) | 618-643 |
Number of pages | 26 |
Journal | Journal of Comparative Economics |
Volume | 27 |
Issue number | 4 |
DOIs | |
Publication status | Published - 1 Dec 1999 |
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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 Publications › Journal Article (refereed)
TY - JOUR
T1 - Human capital, growth, and inequality in Russia
AU - FAN, Chengze, Simon
AU - OVERLAND, Jody
AU - SPAGAT, Michael
PY - 1999/12/1
Y1 - 1999/12/1
N2 - 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.
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.
UR - http://commons.ln.edu.hk/sw_master/2135
U2 - 10.1006/jcec.1999.1617
DO - 10.1006/jcec.1999.1617
M3 - Journal Article (refereed)
VL - 27
SP - 618
EP - 643
JO - Journal of Comparative Economics
JF - Journal of Comparative Economics
SN - 0147-5967
IS - 4
ER -