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Education financing and growth using an overlapping generations model: A theoretical perspective

DOI: 10.2298/eka1397007z

Keywords: Educational finance , economic growth , overlapping generations

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Abstract:

This paper proposes an overlapping generations model along the lines of the papers by Glomm and Ravikumar (1997). Its aim is to provide a theoretical extension in which we establish, in an original framework, a comparison of public and private educational financing systems in terms of economic growth. The results provide a critique of the literature that suggests that private expenditure will inevitably lead to greater economic growth than a policy of public education.

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