Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/194731 
Year of Publication: 
2017
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 5 [Issue:] 1 [Publisher:] Taylor & Francis [Place:] Abingdon [Year:] 2017 [Pages:] 1-16
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
We argue that South Korean families with children are today overinvesting in the level of education due to their high levels of expenditures on private after-school tutoring programs. This situation has evolved due to a combination of factors: a changing labor market, increasing housing and debt payments, as well as an educational 'arms race' among Korean families with children. These changes are exacerbating both economic and social issues in Korean society, but are increasingly difficult to address due to issues of complementarity and coordination failures related to educational expenditures. Korea might be inexorably falling into a surprising 'education trap.'
Subjects: 
education policy
South Korea
human capital
educational expenditures
private tutoring
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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