Comparable Estimates of Returns to Schooling Around the World
Rates of return to investments in schooling have been estimated since the late 1950s. In the 60-plus year history of such estimates, there have been several attempts to synthesize the empirical results to ascertain patterns. This paper presents com...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank Group, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/09/20173085/comparable-estimates-returns-schooling-around-world http://hdl.handle.net/10986/20340 |
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okr-10986-203402021-04-23T14:03:55Z Comparable Estimates of Returns to Schooling Around the World Montenegro, Claudio E. Patrinos, Harry Anthony AVERAGE SCHOOLING BASIC EDUCATION BASIC EDUCATION LEVEL COMPARATIVE EDUCATION COMPULSORY SCHOOLING DEMAND FOR EDUCATION DUMMY VARIABLES ECONOMIC DEVELOPMENT ECONOMICS OF EDUCATION EDUCATION ATTAINMENT EDUCATION ECONOMICS EDUCATION SYSTEMS ETHNIC DISCRIMINATION ETHNIC GROUPS FEDERAL RESERVE GENDER DISCRIMINATION GENDER GAP GLOBAL ECONOMY HOLDING HOUSEHOLD SURVEYS HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCES HUMAN RIGHTS INTERNATIONAL BANK INVESTMENT IN EDUCATION INVESTMENTS IN EDUCATION LABOR MARKET LEVEL OF EDUCATION LEVELS OF EDUCATION LIBRARIES OPPORTUNITY COST PAPERS PERSONAL INCOME POLITICAL ECONOMY PRIMARY LEVEL PRIMARY SCHOOL PRIMARY SCHOOL LEVEL PRIMARY SCHOOL-AGED CHILDREN PRIMARY SCHOOLING QUALITY EDUCATION RATE OF RETURN RATE OF RETURNS RATES OF RETURN RETURNS RETURNS TO EDUCATION RETURNS TO SCHOOLING SCHOOL CONSTRUCTION SCHOOL FINANCE SCHOOL GRADUATES SCHOOL FEES SCHOOLING SCHOOLING COEFFICIENT SCHOOLING LEVELS SECONDARY EDUCATION SECONDARY SCHOOL SOCIAL BENEFITS SOCIAL CAPITAL TERTIARY EDUCATION TUITION Rates of return to investments in schooling have been estimated since the late 1950s. In the 60-plus year history of such estimates, there have been several attempts to synthesize the empirical results to ascertain patterns. This paper presents comparable estimates, as well as a database, that use the same specification, estimation procedure, and similar data for 139 economies and 819 harmonized household surveys. This effort to compile comparable estimates holds constant the definition of the dependent variable, the set of control variables, the sample definition, and the estimation method for all surveys in the sample. The results of this study show that (1) the returns to schooling are more concentrated around their respective means than previously thought; (2) the basic Mincerian model used is more stable than may have been expected; (3) the returns to schooling are higher for women than for men; (4) returns to schooling and labor market experience are strongly and positively associated; (5) there is a decreasing pattern over time; and (6) the returns to tertiary education are highest. 2014-10-02T20:14:36Z 2014-10-02T20:14:36Z 2014-09 http://documents.worldbank.org/curated/en/2014/09/20173085/comparable-estimates-returns-schooling-around-world http://hdl.handle.net/10986/20340 English en_US Policy Research Working Paper;No. 7020 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Group, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AVERAGE SCHOOLING BASIC EDUCATION BASIC EDUCATION LEVEL COMPARATIVE EDUCATION COMPULSORY SCHOOLING DEMAND FOR EDUCATION DUMMY VARIABLES ECONOMIC DEVELOPMENT ECONOMICS OF EDUCATION EDUCATION ATTAINMENT EDUCATION ECONOMICS EDUCATION SYSTEMS ETHNIC DISCRIMINATION ETHNIC GROUPS FEDERAL RESERVE GENDER DISCRIMINATION GENDER GAP GLOBAL ECONOMY HOLDING HOUSEHOLD SURVEYS HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCES HUMAN RIGHTS INTERNATIONAL BANK INVESTMENT IN EDUCATION INVESTMENTS IN EDUCATION LABOR MARKET LEVEL OF EDUCATION LEVELS OF EDUCATION LIBRARIES OPPORTUNITY COST PAPERS PERSONAL INCOME POLITICAL ECONOMY PRIMARY LEVEL PRIMARY SCHOOL PRIMARY SCHOOL LEVEL PRIMARY SCHOOL-AGED CHILDREN PRIMARY SCHOOLING QUALITY EDUCATION RATE OF RETURN RATE OF RETURNS RATES OF RETURN RETURNS RETURNS TO EDUCATION RETURNS TO SCHOOLING SCHOOL CONSTRUCTION SCHOOL FINANCE SCHOOL GRADUATES SCHOOL FEES SCHOOLING SCHOOLING COEFFICIENT SCHOOLING LEVELS SECONDARY EDUCATION SECONDARY SCHOOL SOCIAL BENEFITS SOCIAL CAPITAL TERTIARY EDUCATION TUITION |
| spellingShingle |
AVERAGE SCHOOLING BASIC EDUCATION BASIC EDUCATION LEVEL COMPARATIVE EDUCATION COMPULSORY SCHOOLING DEMAND FOR EDUCATION DUMMY VARIABLES ECONOMIC DEVELOPMENT ECONOMICS OF EDUCATION EDUCATION ATTAINMENT EDUCATION ECONOMICS EDUCATION SYSTEMS ETHNIC DISCRIMINATION ETHNIC GROUPS FEDERAL RESERVE GENDER DISCRIMINATION GENDER GAP GLOBAL ECONOMY HOLDING HOUSEHOLD SURVEYS HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCES HUMAN RIGHTS INTERNATIONAL BANK INVESTMENT IN EDUCATION INVESTMENTS IN EDUCATION LABOR MARKET LEVEL OF EDUCATION LEVELS OF EDUCATION LIBRARIES OPPORTUNITY COST PAPERS PERSONAL INCOME POLITICAL ECONOMY PRIMARY LEVEL PRIMARY SCHOOL PRIMARY SCHOOL LEVEL PRIMARY SCHOOL-AGED CHILDREN PRIMARY SCHOOLING QUALITY EDUCATION RATE OF RETURN RATE OF RETURNS RATES OF RETURN RETURNS RETURNS TO EDUCATION RETURNS TO SCHOOLING SCHOOL CONSTRUCTION SCHOOL FINANCE SCHOOL GRADUATES SCHOOL FEES SCHOOLING SCHOOLING COEFFICIENT SCHOOLING LEVELS SECONDARY EDUCATION SECONDARY SCHOOL SOCIAL BENEFITS SOCIAL CAPITAL TERTIARY EDUCATION TUITION Montenegro, Claudio E. Patrinos, Harry Anthony Comparable Estimates of Returns to Schooling Around the World |
| relation |
Policy Research Working Paper;No. 7020 |
| description |
Rates of return to investments in
schooling have been estimated since the late 1950s. In the
60-plus year history of such estimates, there have been
several attempts to synthesize the empirical results to
ascertain patterns. This paper presents comparable
estimates, as well as a database, that use the same
specification, estimation procedure, and similar data for
139 economies and 819 harmonized household surveys. This
effort to compile comparable estimates holds constant the
definition of the dependent variable, the set of control
variables, the sample definition, and the estimation method
for all surveys in the sample. The results of this study
show that (1) the returns to schooling are more concentrated
around their respective means than previously thought; (2)
the basic Mincerian model used is more stable than may have
been expected; (3) the returns to schooling are higher for
women than for men; (4) returns to schooling and labor
market experience are strongly and positively associated;
(5) there is a decreasing pattern over time; and (6) the
returns to tertiary education are highest. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Montenegro, Claudio E. Patrinos, Harry Anthony |
| author_facet |
Montenegro, Claudio E. Patrinos, Harry Anthony |
| author_sort |
Montenegro, Claudio E. |
| title |
Comparable Estimates of Returns to Schooling Around the World |
| title_short |
Comparable Estimates of Returns to Schooling Around the World |
| title_full |
Comparable Estimates of Returns to Schooling Around the World |
| title_fullStr |
Comparable Estimates of Returns to Schooling Around the World |
| title_full_unstemmed |
Comparable Estimates of Returns to Schooling Around the World |
| title_sort |
comparable estimates of returns to schooling around the world |
| publisher |
World Bank Group, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/09/20173085/comparable-estimates-returns-schooling-around-world http://hdl.handle.net/10986/20340 |
| _version_ |
1764445077213544448 |