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Of Policy Reforms -- Appendices -- Appendix 1 -- Appendix 2 -- References -- Chapter 3: Human Capital Policy -- The Good -- The Bad -- The Ugly -- Making of the Public University Corporation -- Education and Wage Inequality -- Other Candidates for Rising Wage Inequality -- Education and the Fiscal Gap -- Technological Progress and Wage Inequality -- Education Deniers -- Education and Labor Force Participation -- Human Capital Policy Reforms -- Pre-school Investments -- Vocational Training -- Less Funding and Higher Standards in Public Universities -- Student Loan Forgiveness?

This paper offers possible explanations for three generally observed facts about fiscal policy and development: (F1) The relative size of government increases as an economy develops, (F2) The rise in government and taxation are associated with rising or constant economic growth rates, and (F3) Today's developing countries have larger government sectors than did today's developed countries at similar stages of development. The explanations for these facts are based on the structural transformation from traditional (mostly agricultural) to modern (industrial and post-industrial) production, risi

1. Overview -- Part I One-Sector Growth Models -- 2. Overlapping-Generations Model of Economic Growth -- 3. Fiscal Policy -- 4. Schooling and Fertility -- 5. A Complete One-Sector Neoclassical Growth Model -- Part II Two-Sector and Dual Economies -- 6.Two Sector Growth Models -- 7. Wage and Fertility Gaps in Dual Economies -- 8. Physical Capital in Dual Economies -- 9. A Complete Dual Economy -- Part III Additional Topics and Summary -- 10. Government Debt -- 11. Growth Slowdown -- 12 -- Conclusion.

Overview -- Overlapping-Generations Model of Economic Growth -- Fiscal Policy -- Schooling and Fertility -- A Complete One-Sector Neoclassical Growth Model -- Two Sector Growth Models -- Wage and Fertility Gaps in Dual Economies -- Physical Capital in Dual Economies -- A Complete Dual Economy -- Government Debt -- Growth Slowdown -- Conclusion.

AbstractThis paper develops a dynamic general equilibrium model with endogenous rural–urban migration to analyse the provision of rural and urban government services in China, with special emphasis on the role of the household registration (hukou) system in shaping its urbanization process. It argues that China's urban bias policy, which is enabled by the hukou system restricting rural–urban migration, did not necessarily reduce economic efficiency. Rather, it might have only raised urban welfare at the expense of rural residents. As the hukou system also ties people to particular geographical locations, this paper argues that China's continuous bias towards coastal and big cities has started to cause economic inefficiency as well as inequality. It suggests that progressive hukou reform reducing barriers to cross‐region migration would improve economic efficiency and welfare.