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Dimensions of Economic Theory and PolicyEssays for Anjan Mukherji$
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Krishnendu Ghosh Dastidar, Hiranya Mukhopadhyay, and Uday Bhanu Sinha

Print publication date: 2011

Print ISBN-13: 9780198073970

Published to Oxford Scholarship Online: September 2012

DOI: 10.1093/acprof:oso/9780198073970.001.0001

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Economic Growth and the Quality of Teachers in a Public Education System

Economic Growth and the Quality of Teachers in a Public Education System

(p.113) 8 Economic Growth and the Quality of Teachers in a Public Education System
Dimensions of Economic Theory and Policy

Mausumi Das

Subrata Guha

Oxford University Press

This chapter assesses the impact of the quality of teachers on the growth process in a small open economy with a universal public education system. The teachers' salaries are shouldered by the government and financed by taxation, while education is provided free to all. Specifically, a tax is imposed on the labour income of current adults and on income from capital generated within the economy. The quality of workers including those joining the teaching profession is endogenously determined by their level of human capital. In this setup, the chapter demonstrates that the rate of economic growth is a function of the quality of teachers relative to the quality of all workers in the economy. The latter, in turn, is correlated with the taxation policy of the government. The chapter also shows that there is an optimal tax policy and an optimal value for the relative quality of teachers.

Keywords:   teachers, economic growth, public education, open economy, taxation, income, human capital, quality, workers, optimal tax policy

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