This paper uses panel data over the 1960-2000 period, a modified neoclassical growth equation, and a dynamic panel estimator to investigate the effect of higher education human capital on economic growth in African countries. We find that all levels of education human capital, including higher education human capital, have positive and statistically significant effect on the growth rate of per capita income in African counties. Our result differs from those of earlier research that find no significant relationship between higher education human capital and income growth. We estimate the growth elasticity of higher education human capital to be about 0.09, an estimate that is twice as large as the growth impact of physical capital investment. While this is likely to be an overestimate of the growth impact of higher education, it is robust to different specifications and points to the need for African countries to effectively use higher education human capital in growth policies.
The unique characteristics of Small Island Developing States and structural vulnerabilities they face in terms of development have earned them particular consideration in the development agenda. This article sheds light on some of the vulnerabilities that these countries face, making particular reference to their environmental and economic vulnerabilities. It then highlights the ambiguous role that international migration plays in the recreation of those vulnerabilities.
In recent years, issues concerning social protection (particularly pension systems) have become important items on the economic and political agenda in developed and developing countries alike, as demographic projections cast doubt on the financial sustainability of many pension systems currently in place. Substantive reform of pension systems in the Caribbean, however, has yet to materialize. In part, this may be a consequence of the limited amount of research that has been done on pension systems in the Caribbean, since this means that the authorities have not been able to refer to the literature to obtain information about how to tackle the issue of social protection in an environment with similar geographic and geo-climatic characteristics. This paper aims to fill this gap by examining the current status of public pension systems, analysing their recent performance and the challenges faced by schemes in the region, and suggesting ways forward.
Dans ce papier, on développe un modèle de croissance endogène avec agents myopes. On suppose, comme Feldstein (1985), que les taux d'actualisation de l'utilité et du revenu futur des agents sont multipliés par un facteur de myopie identique et distribué uniformément sur [0 1]. Dans ce cadre, l'instauration d'un système de répartition pure réduit la croissance, mais aussi les inégalités au sein des générations. En croissance stable, un régime de capitalisation permet généralement d'atteindre les mêmes objectifs en termes d'équité tout en stimulant le taux de croissance. On s'interroge alors sur les possibilités de transition de la répartition pure vers la capitalisation : la présence d'agents myopes accroît fortement les coûts de transition supportés par les premières générations.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.