المستودع الأكاديمي جامعة المدينة

International capital market integration, educational choice and economic growth

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dc.creator Egger, Hartmut
dc.creator Egger, Peter
dc.creator Falkinger, Josef
dc.creator Grossmann, Volker
dc.date 2005
dc.date.accessioned 2013-10-16T07:02:51Z
dc.date.available 2013-10-16T07:02:51Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19094
dc.identifier ppn:509894976
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19094
dc.description This paper examines the impact of capital market integration (CMI) on higher education and economic growth. We take into account that participation in higher education is noncompulsory and depends on individual choice. Integration increases (decreases) the incentives to participate in higher education in capital-importing (-exporting) economies, all other things equal. Increased participation in higher education enhances productivity progress and is accompanied by rising wage inequality. From a national policy point of view, education expenditure should increase after integration of similar economies. Using foreign direct investment (FDI) as a measure for capital flows, we present empirical evidence which largely confirms our main hypothesis: An increase in net capital inflows in response to CMI raises participation in higher education and thereby fosters economic growth. We apply a structural estimation approach to fully track the endogenous mechanisms of the model.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1630
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject O10
dc.subject J24
dc.subject H52
dc.subject F20
dc.subject ddc:330
dc.subject capital mobility
dc.subject capital-skill complementarity educational choice
dc.subject education policy
dc.subject economic growth
dc.subject wage income inequality
dc.subject Internationaler Finanzmarkt
dc.subject Marktintegration
dc.subject Bildungsverhalten
dc.subject Studium
dc.subject Produktivität
dc.subject Wirtschaftswachstum
dc.subject Lohnstruktur
dc.subject Direktinvestition
dc.subject Schätzung
dc.subject Theorie
dc.subject Welt
dc.title International capital market integration, educational choice and economic growth
dc.type doc-type:workingPaper
dc.coverage 1960-2000


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