Abstract:Summary: 1. Introduction; 2. The model; 3. Extensions; 4. Policy issues and concluding remarks.Keywords: child labor; bequests; capital markets; school policies. JEL codes: J20; J13; D60. This paper investigates whether child labor is socially inefficient. Baland and Robinson (2000) show that child labor might be inefficient when parents care for their children's welfare. In their model, child labor is explained by two factors: poverty and capital market imperfections. However, education in their model is read… Show more
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