Chen, Hung-JuHung-JuChenChen, H.-JH.-JChenHUNG-JU CHEN2018-09-102018-09-102005http://www.scopus.com/inward/record.url?eid=2-s2.0-10944260131&partnerID=MN8TOARShttp://scholars.lib.ntu.edu.tw/handle/123456789/315668This study sets out to develop a dynamic model within an economy characterized by the coexistence of public and private schools, under imperfect credit market conditions, in an attempt to provide a clearer understanding of the evolution of economic growth and income inequality. We find that any government wishing to reduce income inequality should adopt policies aimed at increasing the enrollment rate in public schools. However, whilst high enrollment rates can be sustained in private schools, and thus create enhanced economic growth, this can only occur if accompanied by the liberalization of the credit markets. © 2004 Elsevier B.V. All rights reserved.394075 bytesapplication/pdfImperfect credit markets; Income distribution; Mixed educational system[SDGs]SDG1[SDGs]SDG8[SDGs]SDG10economic growth; educational attainment; financial market; income distributionjournal article10.1016/j.jdeveco.2003.12.016