This paper reviews the origins of the 2 per percent rule, arguing that existing evidence for the rule is not as strong as is often supposed and that in any case it can be a misleading guide to the payoff period in policy applications. In the context of a postulated change in the rate of increase...

Low levels of human capital ivnestment in poor countries have important implications for economic growth, distribution, and social conditions -- and competing explanations for the low levels have been suggested. The most prominent explanations cite low returns, parental preferences, cultural...