Credit constraint and human capital investment: an empirical analysis using Brazilian household budget survey

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dc.contributor.authorCRISTINE CAMPOS DE XAVIER PINTO
dc.contributor.authorChein, Flávia
dc.coverage.cidadeNão Informadopt_BR
dc.coverage.paisEstados Unidospt_BR
dc.creatorChein, Flávia
dc.date.accessioned2022-12-17T16:39:09Z
dc.date.available2022-12-17T16:39:09Z
dc.date.issued2018
dc.description.notesEvidênciapt_BR
dc.description.otherThis article is a first step towards understanding the relationship between credit market imperfections and inequality of opportunity in skill formation. The main goal is to investigate the effects of the credit constraint on the optimal human capital decision, in terms of degree of schooling, taking into account the household preferences for education. Our starting point is a theoretical model of human capital investment decision with credit constraint. Following a previous model in the literature, we propose a reduced-form approach that estimates the relation between education decision and initial wealth in Brazil. Our empirical analysis is conducted using data from a Brazilian Household Budget Survey (Pesquisa de Orçamentos Familiares), for years 2002–2003 and 2008–2009. Our results point out that education decision is in fact credit constrained. The empirical results show a strong and highly significant effect of wealth on educational level of children, teenagers and adults, even controlling by education expenditures. But we find no evidence of credit constraint on high level education decision, like undergraduate and graduate levels.pt_BR
dc.format.extentp. 2369-2385pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.doihttps://doi.org/10.1080/00036846.2017.1397851pt_BR
dc.identifier.issn1466-4283pt_BR
dc.identifier.issue21pt_BR
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/5042
dc.identifier.volume50pt_BR
dc.language.isoInglêspt_BR
dc.publisherRoutledgept_BR
dc.relation.ispartofApplied Economicspt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DOS USUÁRIOS INDIVIDUAIS VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORpt_BR
dc.subject.keywordswealthpt_BR
dc.subject.keywordscredit constraintpt_BR
dc.subject.keywordshuman capitalpt_BR
dc.subject.keywordseducational attainmentpt_BR
dc.titleCredit constraint and human capital investment: an empirical analysis using Brazilian household budget surveypt_BR
dc.typejournal article
dspace.entity.typePublication
local.identifier.sourceUrihttps://www.tandfonline.com/doi/abs/10.1080/00036846.2017.1397851?journalCode=raec20
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeArtigo Científicopt_BR
relation.isAuthorOfPublicationfb10226e-e3f9-41af-9eab-3fd279ec531f
relation.isAuthorOfPublication.latestForDiscoveryfb10226e-e3f9-41af-9eab-3fd279ec531f
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