Returns to Investment in Education : A Further Update
Returns to investment in education based on human capital theory have been estimated since the late 1950s. In the 40-plus year history of estimates of returns to investment in education, there have been several reviews of the empirical results in a...
| Main Authors: | , |
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2002/09/2004282/returns-investment-education-further-update http://hdl.handle.net/10986/19231 |
| Summary: | Returns to investment in education based
on human capital theory have been estimated since the late
1950s. In the 40-plus year history of estimates of returns
to investment in education, there have been several reviews
of the empirical results in attempts to establish patterns.
Many more estimates from a wide variety of countries,
including over time evidence, and estimates based on new
econometric techniques, reaffirm the importance of human
capital theory. The suthors review and present the latest
estimates and patterns as found in the literature at the
turn of the century. However, because the availability of
rate of return estimates has grown exponentially, the
authors include a new section on the need for selectivity in
comparing returns to investment in education and
establishing related patterns. |
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