Education is generally believed to be beneficial in fostering, independent of gender, higher labor productivity. Female education may, however, cause other socio-economic gains which are not captured by higher wage or better compensation package for the educated female worker in the labor market...

This paper develops a tractable multi-sector endogenous growth model with labor market friction and human capital accumulation to analyze the underlying link between economic growth and labor market institutions. The model, calibrated based on the Japanese structural transformation episodes,...