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Education and Income Growth: Implications for Cross-Country Inequality

Donal O'Neill
Journal of Political Economy
Vol. 103, No. 6 (Dec., 1995), pp. 1289-1301
Stable URL: http://www.jstor.org/stable/2138712
Page Count: 13
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Education and Income Growth: Implications for Cross-Country Inequality
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Abstract

This paper examines the extent to which patterns of human capital convergence can account for observed patterns of income inequality between countries. To do this I decompose national income into three components: one due to education levels, one reflecting the return to education, and a residual component. I then examine in turn the contribution of each of them to changes in income dispersion. Among the developed countries, convergence in education levels has resulted in a reduction in income dispersion. However, for the world as a whole, incomes have diverged despite substantial convergence in education levels. This is a result of increases in the return to education that favor the developed countries at the expense of the less developed countries.

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