01761cas a2200241 a 4500 AALejournalIMF001841 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451845464 1018-5941 BD-DhAAL BD-DhAAL Ramcharan, Rodney. Columbia or High School? : Understanding the Roles of Education in Development / Rodney Ramcharan. Washington, D.C. : International Monetary Fund, 2002. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students No country has achieved sustained economic development without investment in education. Thus, education policy can play a vital role in facilitating development. But which types of schooling-secondary or tertiary-should public policy promote? This paper develops an analytical framework to address this question. It shows how the composition of human capital stock determines a country's development. Hence, promoting the "wrong" type of schooling can have little effect on development. In addition to identifying some characteristics of an optimal education policy, the paper helps in understanding why empirical studies have failed to find a significant relationship between schooling and growth. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2002/036 Full text available on IMF http://elibrary.imf.org/view/journals/001/2002/036/001.2002.issue-036-en.xml IMF e-Library