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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2679

Título: Education, neighbourhood effects and growth: an agent based model approach
Autor: Araújo, Tanya
St. Aubyn, Miguel
Palavras-chave: agent modelling
economic growth
education
human capital
neighbourhood effects
poverty trap
Issue Date: 2005
Editora: ISEG – Departamento de Economia
Citação: Araújo, Tanya e Miguel St. Aubyn. 2005. "Education, neighbourhood effects and growth: an agent based model approach". Instituto Superior de Economia e Gestão - DE Working papers nº 10-2005/DE/UECE
Relatório da Série N.º: DE Working papers;nº 10-2005/DE/UECE
Resumo: Endogenous, ideas-led, growth theory and agent based modelling with neighbourhood effects literature are crossed. In an economic overlapping generations framework, it is shown how social interactions and neighbourhood effects are of vital importance in the endogenous determination of the long run number of skilled workers and therefore of the growth prospects of an economy. Neighbourhood effects interact with the initial distribution of educated agents across space and play a key role in the long run stabilisation of the number of educated individuals. Our model implies a tendency towards segregation, with a possibly positive influence on growth, if team effects operate. The long run growth rate is also shown to depend on the rate of time preference. Initial circumstances are of vital importance for long run outcomes. A poor initial education endowment will imply a long run reduced number of skilled workers and a mediocre growth rate, so there no economic convergence tendency. On the contrary, poor societies will grow less, or will even fall into a poverty trap, and will diverge continuously from richer ones.
URI: http://hdl.handle.net/10400.5/2679
ISSN: 0874-4548
Versão do Editor: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=26427
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers

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