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ralph lauren polo

Megumi Mochida
''Educational loan and human capital accumulation in a small open economy''
( 2004, Vol. 6 No.16 )
Cartiglia (1997) shows that trade increases human capital investment in developing countries unless there are credit markets for individuals. In this paper, when households can borrow the education cost from a market, a trade-induced decrease in the skilled wage leads to less human capital investment in developing countries.
Keywords: Capital market imperfection
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
O1 - Economic Development: General
Manuscript Received : Sep 29 2004 Manuscript Accepted : Oct 12 2004

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