What explains schooling differences across countries?


  • ISU General Staff Papers


  • This paper provides a theory that explains the cross-country distribution of average years of schooling, as well as the so called human capital premium puzzle. In our theory, credit frictions as well as differences in access to public education, fertility and mortality turn out to be the key reasons why schooling differs across countries. Differences in growth rates and in wages are second order.

fecha de publicación

  • 2013

Líneas de investigación

  • human capital
  • life cycle model
  • life expectancy
  • per capita income differences
  • public education spending


  • 2011-028