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The full social returns to education : estimates based on countries' economic growth performance (Inglês)

This paper reports new estimates of the social returns to education, using countries' economic performance during 1960-85 to capture the externalities from education. The results confirm the social profitability of investing in education but indicate that the returns by level of education are sensitive to countries' economic status. The authors distinguish between investments to maintain existing coverage and investments to expand it. Their findings relate mainly to the second type of investment decision in the context of observed initial gross enrollment ratios on the primary, secondary, and higher education levels for each category of low-income, middle-income, and high-income countries. Using this data, the authors maintain that the results suggest that low-income countries benefited most from investments to expand primary education, while in middle-income countries, it was investments to expand secondary education that brought the highest social returns. In the high-income countries, investing to expand coverage in higher education yielded the best returns. Investments with poor social returns include expansion of higher education in low- and middle-income settings and expansion of secondary education in high-income settings.

Detalhes

  • Autor

    Mingat, Alain Jee-Peng Tan

  • Data do documento

    1996/09/30

  • TIpo de documento

    Documento de trabalho sobre capital humano

  • No. do relatório

    16131

  • Nº do volume

    1

  • Total Volume(s)

    1

  • Data de divulgação

    2010/07/01

  • Nome do documento

    The full social returns to education : estimates based on countries' economic growth performance

  • Palavras-chave

    rates of return to education;Higher Education;social return;social rate of return;education and economic growth;negative rate of return;per capita income growth;human resource development;direct costs of education;marginal productivity of labor;Economic Returns to Education;early stage of development;real per capita income;enrollment ratio;cost of education;impact of education;regression coefficient;per capita gnp;primary enrollment ratio;return to investment;Learning and Innovation Credit;average enrollment ratio;returns to schooling;types of cost;higher education enrollment;economics of education;primary school teacher;investments in education;cost of capital;economic growth performance;formal sector worker;course of study;gross enrollment ratio;form of investment;higher education student;knowledge in science;implications for policy;competitive labor market;effects of education;slow population growth;human capital development;spread of education;investment in children;secondary school leaver;primary school enrollment;specialization of labor;pool of candidates;number of pupils;universal primary education;highly educated people;country economic performance;contribution of education;coefficient on population;Benefits of Education;primary enrollment rate;primary education coverage;tertiary enrollment rate;secondary enrollment rate;public expenditure program;Type of Investment;Science and Technology;Public Spending;education investment;public subsidy;regression results;private return;base case;opportunity cost;statistical significance;deadweight loss;individual earnings;labor productivity;individual data;earnings data;high-income group;environmental stress;private spending;aggregate growth;personal earnings;school fee;regression analysis;cost stream;investment priority;public good;education group;empirical literature;public policy;education variable;empirical evidence;educational quality;Investment priorities;cross-country data;benefit stream;young child;personal health;personal choice;personal income;unskilled laborer;college education;social institution;market force;advanced economy;production process;production possibilities;average wage;private individuals;upper bind;equity reasons;primary schooling;community wealth;low-income settings;private resources;initial education;investment spending;education systems;education ladder;societal level;regression equation;land distribution;historical data;skill shortage;model specification;cross-country perspective;empirical work;dropping out;world development;household production;research department;transition economy;Transition economies;reasonable estimate;cross-sectional evidence;standard error;productive process;measurement problem;cost data;relevant population;work experience;expanding investment;admission criterion;Investment strategies;important component;empirical estimate;community health;Social Welfare;technological possibility;school investment;regression model;work productivity;worker productivity;political stability;poverty alleviation;public costs;public debate;private rate;schooling cost;wage data;social externalities;postgraduate training;public program;donor policies;standard practice;student learning;private cost;research activities;basic model;research activity;cut-off point;negative coefficient;cost-benefit analysis;crime reduction;Macroeconomic Policy;Infectious Disease;age-earnings profile;Maternal Mortality;private benefit;public resource;initial investment;distributive politics;production technology;small sample;aggregate data;income equity;legal institution;efficient investment;food price;marginal effect;positive impact;educational expansion;equipment investment;positive relationship;education indicator;tertiary level;primary level;low-income economy;empirical analysis;secondary level;Basic Education;average investment;productive investment;

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