Education, Job Signaling, and Dual Labor Markets in Developing Countries

Sunwoong Kim, Hamid Mohtadi, Sunwoong Kim & Hamid Mohtadi
An overlapping generational model of educational investment in a dual labor markets is presented in which education serves both as a screening device and as investment in human capital. Labor market dualism arises not only via the conventional technology (productivity) differential between a primary and a secondary sector, but also by a higher than a labor market clearing wage in the primary sector, to insure no shirking by the workers (an element shared with the...
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