Aid Volatility, Human Capital, and Growth

IF 1.6 3区经济学 Q2 ECONOMICS

Journal of Human Capital Pub Date : 2020-09-01 DOI:10.1086/710321

P. Agénor, Nihal Bayraktar

引用次数: 4

Abstract

We study the effect of aid volatility on education outcomes and economic growth, in a model that focuses on a low-income economy where acquiring skills benefits from public subsidies partly financed through foreign aid. By creating uncertainty about the net return to education, a high degree of aid volatility mitigates agents’ incentives to invest in skills. If savings and growth depend on the composition of the labor force, aid volatility may have an adverse effect on the mean growth rates of investment and output. Panel data regressions for a group of aid-dependent countries provide robust evidence of a negative relationship between the volatility of education aid and schooling outcomes.

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援助的波动性、人力资本和增长

我们研究了援助波动对教育成果和经济增长的影响，该模型侧重于低收入经济，在低收入经济中，获得技能受益于部分由外国援助资助的公共补贴。通过对教育净回报产生不确定性，高度的援助波动降低了代理人投资技能的动机。如果储蓄和增长取决于劳动力的构成，那么援助的波动性可能会对投资和产出的平均增长率产生不利影响。一组依赖援助的国家的小组数据回归有力地证明了教育援助的波动性与学校教育结果之间存在负面关系。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Human Capital ECONOMICS-

CiteScore

2.30

自引率

0.00%

发文量

期刊介绍： Journal of Human Capital is dedicated to human capital and its expanding economic and social roles in the knowledge economy. Developed in response to the central role human capital plays in determining the production, allocation, and distribution of economic resources and in supporting long-term economic growth, JHC is a forum for theoretical and empirical work on human capital—broadly defined to include education, health, entrepreneurship, and intellectual and social capital—and related public policy analyses. JHC encompasses microeconomic, macroeconomic, and international economic perspectives on the theme of human capital. The journal offers a platform for discussion of topics ranging from education, labor, health, and family economics.