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Journal articles on the topic 'Returns to Education'

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Published: 4 June 2021

Last updated: 20 February 2023

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1

Carneiro, Pedro, James J. Heckman, and Edward J. Vytlacil. "Estimating Marginal Returns to Education." American Economic Review 101, no. 6 (October 1, 2011): 2754–81. http://dx.doi.org/10.1257/aer.101.6.2754.

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This paper estimates marginal returns to college for individuals induced to enroll in college by different marginal policy changes. The recent instrumental variables literature seeks to estimate this parameter, but in general it does so only under strong assumptions that are tested and found wanting. We show how to utilize economic theory and local instrumental variables estimators to estimate the effect of marginal policy changes. Our empirical analysis shows that returns are higher for individuals with values of unobservables that make them more likely to attend college. We contrast our estimates with IV estimates of the return to schooling. JEL: I23, J24, J31

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2

Henderson, Daniel J., Anne-Charlotte Souto, and Le Wang. "Higher-Order Risk–Returns to Education." Journal of Risk and Financial Management 13, no. 11 (October 28, 2020): 253. http://dx.doi.org/10.3390/jrfm13110253.

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In the traditional human capital framework, education is often considered as an investment, rather than consumption, while consumption is not necessarily precluded. Whether education is an investment is empirically unclear and relatively under-explored. We shed light on this issue by estimating the risk–return trade-off in the context of education. If education is indeed an investment, risk could play an important role in individual educational decisions just as with risky assets. As portfolio theory predicts, there could be a trade-off between returns to education and risks concerning those returns: higher risks are generally associated with higher returns. We contribute to the literature by proposing various measures of risk based on the entire distribution of returns to education recovered by our nonparametric models. Our results confirm a trade-off between returns and variance. We also found statistically significant impacts for the higher moments: skewness and kurtosis. Interestingly, we found the relationship between mean returns and variance to be linear, and the relationship between expected returns and higher-moments (skewness and kurtosis) is non-linear.

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3

Poudel, Min Raj. "Survey on Rate of Return on Investment in Education." Interdisciplinary Research in Education 7, no. 1 (September 5, 2022): 129–46. http://dx.doi.org/10.3126/ire.v7i1.47505.

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The rate of return to education is the sum of discounted benefits and costs. It shows the relatively profitable sector for a secure investment. The main objective of this study is to review and analyze the volume of the rate of return to education. The literature review, survey design was used, and the materials were collected using purposive sampling. The analysis concludes that the rate of return on education can be analyzed based on the additional year of schooling, sex, levels of education, occupations, geographical regions, countries, and sectors. Different studies conducted in different countries reveal that the size of the rate of return differs according to the categories mentioned above. It means that overall returns to education seem highly heterogeneous. Likewise, most studies show that the private rate of returns for females is higher than that of males; the tertiary level's returns are higher than the other levels, and the urban sector's returns are higher than that of the rural sector.

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4

Li, Fengliang, and Liang Wang. "Empirical Analysis of Return to Distance Higher Education in Different Disciplines." International Review of Research in Open and Distributed Learning 22, no. 1 (March 11, 2021): 148–65. http://dx.doi.org/10.19173/irrodl.v22i1.5029.

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Few empirical studies have analyzed the return to distance higher education in different academic disciplines. This study used quantitative methods, data from a nationwide survey, and Mincerian earnings function to analyze the return to distance higher education among different disciplines in China’s labor market. Results were compared with the return to face-to-face higher education and showed that the returns to face-to-face higher education were higher than those to distance higher education. Returns to the disciplines of economics and management were at a high level in both face-to-face and distance education; returns to the disciplines of literature, as well as education and law, were at a low level in both face-to-face and distance education. The returns to the disciplines of science and engineering were higher in face-to-face education than in distance education. This paper proposes several recommendations. Adults who do not have higher education degrees should invest in distance higher education to obtain considerable monetary returns, particularly in the disciplines with higher returns such as management and economics. China’s distance education institutions should improve the quality of teaching in science and engineering education and find ways to provide high-quality experimental teaching practices. At the same time, they should scale back on instruction of literature, as well as education and law.

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5

Stager, David A. A. "Returns to Investment in Ontario University Education, 1960-1990, and Implications for Tuition Fee Policy." Canadian Journal of Higher Education 26, no. 2 (August 31, 1996): 1–21. http://dx.doi.org/10.47678/cjhe.v26i2.183235.

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Because students' university enrolment decisions are influenced by expected returns to their educational investment, policy decisions should be informed by calculations of such returns. Private rates of return, by field of study, for Ontario university graduates in 1990 ranged from 7% (humanities) to 21% (medicine). Returns were generally higher for women than for men. The 1990 results were virtually unchanged from 1985 when there was a sharp reversal of the long-run decline in rates of return that occurred from 1960 to 1980. Alternative assumptions about tuition fee levels show that doubling tuition fees from 1990 levels, or abolishing fees, would change the rates of return by only about two percentage points in either direction. Doubling fees in the major professional faculties would leave rates of return still in excess of returns to arts and science at current fee levels.

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6

Ahmed, Tutan, and Raghabendra Chattopadhyay. "Return to general education and vocational education & training in Indian context." International Journal of Educational Management 30, no. 3 (April 11, 2016): 370–85. http://dx.doi.org/10.1108/ijem-10-2014-0135.

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Purpose – Measurement of returns to vocational education has always remained a matter of controversy (Psacharopoulos, 1994; Bennell and Segerstrom, 1998; Ziderman, 1997). Based upon the return evidence many World Bank projects were scrapped (Middleton and Ziderman, 1997, Bennell and Segerstrom, 1998). However, there is again a growing interest for Vocational Education in different countries as well as in international body like UNESCO (Debroy, 2009; King, 2009; McGrath, 2012). Unfortunately there is little justification for this growth from the returns to Vocational Education literature. India is one among the countries where fervent around vocational education and training (henceforth VET) is quite discernible at present. The paper aims to discuss these issues. Design/methodology/approach – Standard Minerian, extended Mincerian and Heckman two-stage methods are used to measure returns to VET vis-à-vis returns to general education in Indian context while taking care of selection bias problem. It is measured at different levels of education since the characteristics of VET changes significantly at different levels of education. This work also considers different classifications of VET (Formal, Hereditary, On the Job). National Sample Survey (NSS) data which recently has included data on VET is used for this measurement. Findings – It shows that the returns to formal VET and On the Job training (OJT) are quite high in the primary level. There is a gradual decline in these returns when compared with general education at higher levels, namely, secondary and tertiary level. At tertiary level effect of formal VET or OJT on income becomes almost insignificant. On the other hand, hereditary training and other category of VET have significantly negative impact and insignificant impact on income, respectively. Research limitations/implications – This work suggests that the investment in VET in present context is justified however there is a requirement to focus on specific area within the VET for this investment. Investment in higher level of formal VET as well as in the OJT set up can provide better return to the individuals. However, NSS data does not provide income data for the self-employed persons. Hence, self-employed category remains outside the purview of this study. Practical implications – In general, formal VET and OJT are profitable for individual in wage employment. However, this profitability declines when the effect of the training is measured at a higher level of general education. Formal vocational training/OJT for the primary and secondary school dropouts are clearly profitable. However, OTJ seems to be providing a return similar to what is provided by formal training. A poor performance of formal VET indicates an institutional gap and reflects present cry from industry for “quality” manpower. Originality/value – To author’s knowledge there is no study on return evidence from various types of VET in Indian context. This study is a deviance from the existing literature on VET in following ways. First, this study suggests that investment in VET can be profitable. Second, many earlier works missed out to consider different types of VET and compare them with general education at different levels. Putting all types of VET into one basket and then analyzing returns has the risk to misleading the policies. Different VETs have completely different dynamics and hence it is required to treat them separately.

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7

O'Leary, Nigel C., and Peter J. Sloane. "The Return to a University Education in Great Britain." National Institute Economic Review 193 (July 2005): 75–89. http://dx.doi.org/10.1177/0027950105058559.

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In this paper, we estimate the rate of return to first degrees, Masters degrees and PhDs in Britain using data from the Labour Force Survey. We estimate returns to broad subject groups and more narrowly defined disciplines, distinguishing returns by gender and controlling for variations in student quality across disciplines. The results reveal considerable heterogeneity in returns to particular degree programmes and by gender, which have important policy implications for charging students for the costs of their education.

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Tansel, Aysit, and Yousef Daoud. "Returns to Education in Palestine and Turkey: A Comparative Analysis." Perspectives on Global Development and Technology 13, no. 3 (April 15, 2014): 347–78. http://dx.doi.org/10.1163/15691497-12341306.

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AbstractThis study exposes a comparative treatment of the private returns to education in Palestine and Turkey over the period 2004-2008. Comparable data, similar definitions and same methodology are used in the estimations. The results suggest that returns to schooling are higher for Turkey at the various levels of education for females and males and for both years 2004 and 2008. In 2008, returns are lower than 2004 levels for all stages of education. Returns to education are higher for women than men in both countries. The median ratio of male to female return is 0.55 (university) in 2004 and decreased to 0.17 (high school) in 2008 in Palestine. The corresponding figures for Turkey are 0.79 and .082 (both for high school). Finally, it was found that the selectivity corrected return estimates are lower than theolsestimates in Palestine while they are higher than theolsestimates in Turkey.

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9

Asravor, Richard Kofi. "Estimating the economic return to education in Ghana: a gender-based perspective." International Journal of Social Economics 48, no. 6 (March 17, 2021): 843–61. http://dx.doi.org/10.1108/ijse-09-2020-0602.

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PurposeThe increasing rate at which individuals, especially, females in Ghana are seeking higher education calls for an estimation of the returns to schooling and education in Ghana.Design/methodology/approachThe study employs the Mincer equation to a representative cross-sectional micro-data from Ghana using OLS and instrumental variable (IV) methodologies. The paper uses spouse's education as instruments in the IV estimation.FindingsReturn to schooling was found to be higher for females than males, likewise, membership of an old student associations and location of the household. Returns to education increases as the level of education rises whilst the rate of returns initially increases but fall as labour market experience rises. The study also found that the rates of return to education were higher for Christian, followed by Muslim and believers of other lesser-known religion in Ghana.Research limitations/implicationsReturn to schooling was found to be higher for females than males. Likewise, individuals who are members of an old student association and are in urban areas were found to have a higher return to schooling than individuals who are not members of an old student association and are in rural areas. Returns to education increases as the level of education rises whilst the rate of returns initially increases but fall as labour market experience rises. The study also found that the rates of return to education were higher for Christian, followed by Muslim and believers of other lesser-known religion in Ghana.Practical implicationsWage determination process is different for males and females, across religion and residency. The higher returns to schooling for females imply education is a good investment for women and girls and should be a development priority.Social implicationsThe higher returns to schooling for females imply an investment in girl's education should be a development priority.Originality/valueThe paper extends the existing literature by focussing on the role of religion, old student's association (alma mater) and gender on the differential earning returns to schooling.

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10

Rosen, Gerald H. "Declining Returns." Academe 78, no. 1 (1992): 8. http://dx.doi.org/10.2307/40251210.

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11

Abraham, Jaya, Shilpa Iyanna, and Makhtar Sarr. "Perceived Rate Of Returns To Education: A UAE Perspective." International Business & Economics Research Journal (IBER) 12, no. 8 (July 29, 2013): 979. http://dx.doi.org/10.19030/iber.v12i8.7993.

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The measurement of rate of returns is central to the profitability analysis of educational investments. Literature suggests that the ex-ante approach of measuring the perceptions of the beneficiaries is a reliable indicator of returns to education. The present study estimates the perceived rate of returns to higher education for undergraduate students in UAE. Respondents were asked to provide estimates of future expected earnings with and without higher education. The study indicates that the Emiratis and non-Emirati students differ significantly in the estimates of perceived rate of returns. The findings of this study offer strategic insights on the economic considerations in the higher education enrollment process in the UAE. It also emphasizes the need for better counseling among the Emirati school students regarding the importance of higher education and return to higher education.

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12

van Kippersluis, Hans, Owen O’Donnell, and Eddy van Doorslaer. "Long-Run Returns to Education." Journal of Human Resources 46, no. 4 (2011): 695–721. http://dx.doi.org/10.3368/jhr.46.4.695.

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13

Jaffry, Shabbar, Yaseen Ghulam, and Vyoma Shah. "Returns to Education in Pakistan." Pakistan Development Review 46, no. 4II (December 1, 2007): 833–52. http://dx.doi.org/10.30541/v46i4iipp.833-852.

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There is an extensive empirical literature on returns to education that focuses both on developed and developing countries. Available literatures in developing countries compare the returns to academic education and vocational education [Nasir and Nazil (2000)], or seek to identify the impact of completing a given schooling cycle on earnings [Appleton (2001)]. The aim of this study is to contribute the literature by conducting a systematic analysis on returns to education and education inequality in Pakistan. In particular it asks to what extent inequality for different level of education vary across the wage distribution. In order to address simultaneously the two issue of return to education and education inequality, study adopt a quantile regression framework. A characteristic of the wage and salary structure of most countries is that people with more education tend to receive higher remuneration than those with less [Colclough (1982)]. To do so, the paper has used data drawn from Labour Force Surveys, conducted by Government of Pakistan for the time period between 1990 and 2003, which contains eight different surveys, using methodology developed by Agrist, et al. (2006), where weighted least squares interpretation of Quantile Regression is used to derive an omitted variables bias formula and a partial quantile regression concept, similar to the relationship between partial regression and OLS. Estimation uses personal and household characteristics, occupational and employment characteristics in order to assess the education inequality. Empirical estimates indicate that education inequality is much higher for the middle level educates compare to educate that has less education or high level education and qualifications. The education level coefficients decrease when different sets of exogenous variables are introduced in the estimation equation. Analysis also suggests the existence of the education inequality across different areas and regions and over the time it has increased.

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14

Harmon, Colm, Hessel Oosterbeek, and Ian Walker. "The Returns to Education: Microeconomics." Journal of Economic Surveys 17, no. 2 (April 2003): 115–56. http://dx.doi.org/10.1111/1467-6419.00191.

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15

Sianesi, Barbara, and John Van Reenen. "The Returns to Education: Macroeconomics." Journal of Economic Surveys 17, no. 2 (April 2003): 157–200. http://dx.doi.org/10.1111/1467-6419.00192.

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16

Byron, Raymond P., and Evelyn Q. Manaloto. "Returns to Education in China." Economic Development and Cultural Change 38, no. 4 (July 1990): 783–96. http://dx.doi.org/10.1086/451833.

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17

LEIGH, ANDREW. "RETURNS TO EDUCATION IN AUSTRALIA." Economic Papers: A journal of applied economics and policy 27, no. 3 (September 2008): 233–49. http://dx.doi.org/10.1111/j.1759-3441.2008.tb01040.x.

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18

Asadullah, Mohammad Niaz. "Returns to Education in Bangladesh." Education Economics 14, no. 4 (December 2006): 453–68. http://dx.doi.org/10.1080/09645290600854144.

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19

Delaney, Judith M. "Risk-adjusted returns to education." Education Economics 27, no. 5 (July 10, 2019): 472–87. http://dx.doi.org/10.1080/09645292.2019.1639625.

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20

Fulford, Scott. "Returns to Education in India." World Development 59 (July 2014): 434–50. http://dx.doi.org/10.1016/j.worlddev.2014.02.005.

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21

Vieira, José A. C. "Returns to education in Portugal." Labour Economics 6, no. 4 (November 1999): 535–41. http://dx.doi.org/10.1016/s0927-5371(99)00034-2.

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22

蒋, 亚丽. "Gender Gap of Education Returns." Advances in Social Sciences 06, no. 05 (2017): 513–23. http://dx.doi.org/10.12677/ass.2017.65071.

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23

Dilmé, Francesc. "Parents’ Investments and Education Returns." Cuadernos de Economía 32, no. 89 (May 2009): 39–58. http://dx.doi.org/10.1016/s0210-0266(09)70048-2.

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24

Wößmann, Ludger. "Returns to education in Europe." Review of World Economics 139, no. 2 (June 2003): 348–76. http://dx.doi.org/10.1007/bf02659749.

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Sami Khan, Farhan, and Imran Ashraf Toor. "Changes in Returns to Education in Pakistan: 1990-2002." LAHORE JOURNAL OF ECONOMICS 8, no. 2 (July 1, 2003): 83–98. http://dx.doi.org/10.35536/lje.2003.v8.i2.a5.

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This paper examines the trends in marginal rates of return to various levels of education for paid employees and how rewards for additional investments at a particular level of education has changed over time. Although the findings are indicative of increasing returns at different educational levels (excluding Graduation) over the years, we find no evidence that additional investments at successive levels bring consistently higher returns as highlighted by certain previous studies in Pakistan. The changes in returns at the primary and pre secondary levels have been found to be miniscule, taking the time span into consideration. The paper has also examined the returns to education between males and females and across urban and rural areas in view of the large disparities that exist by gender and region. Our findings indicate that although the wage structure may be biased in favour of males, additional investments made in female education accrue higher returns in comparison to males. Moreover, higher education is better rewarded in the urban areas whereas medium of instruction is a significant indicator of earning differentials in the labour market.

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Azhar, Mukhamad, S. Suwatno, and Amir Mahmud. "DETERMINANT RETURN TO EDUCATION IN INDONESIA." Jurnal MANAJERIAL 17, no. 1 (January 26, 2018): 52. http://dx.doi.org/10.17509/manajerial.v17i1.9761.

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Badan Pusat Statistik. (2016). Penduduk Berumur 15 Tahun ke Atas yang Bekerja Selama Seminggu yang Lalu Menurut Lapangan Pekerjaan Utama dan Pendidikan Tertinggi yang Ditamatkan. Jakarta: Badan Pusat Statistik.Badan Pusat Statistik.(2016). Keadan Angkatan Kerja Provinsi Banten Agustus 2016. BPS Banten.Becker, Gary S. (1975). Human Capital, A Theoretical and Empirical Analysis with Special Reference to Education, 2nd Edition. Diakses dari http://www.nber.org/Deolalikar, Anil. (1993). Gender Differences in the Returns to Schooling and in School Enrollment Rates in Indonesia. Journal of Human Resources. 28 (4), 899-932[Friedman, Howard S., Schustack, Miriam W. (2008). Kepzribadian Teori Klasik dan Riset Modern. Jakarta: Penerbit Erlangga.Heckman, James J., Lochner, Lance J., dan Todd, Petra E. (2003) Fifty Years of Mincer Earnings aKrueger, Alan B., and Lindahl, Mikael. (2000). Education for Growth: Why and For Whom?. Working Paper No. 7591.Megasari, Diah Nurulia, (2014). Analisis Tingkat Pengembalian Investasi Pendidikan Antara Laki-Laki Dan Perempuan Di Provinsi Jawa Barat Tahun 2014. Universitas Negeri YogyakartaOECD Stat. Extract. Dzaiakses dari: http://stats.oecd.org, pada 1 April 2015.OECD. (2000). Estimating Economic and Social Returns to Learning: Session 3 Issues for Discussion.Perkins, D.H, Radelet, S, Snograss, R.R, Gillis, M, and Roemer, M. 2001. Economics of Development.WW. Norton & Company, Inc. United States of America.Psacharopoulos, G. 1985. “Returns to education: A further international update andimplication”. The Journal of Human Resources, 20 (4), 583-597.Psacharopoulos, George 1994 “Returns to Investment in Education: A Global Update”.World development vol. 22 no. 9 pp 1325-43.Psacharopoulos, George. (1993). Return to Investment in Education: A Global Update. Diaksesdari: http://www- wds.worldbank.org/servlet, pada 10 Agustus 2015.Psacharopoulos, George. (2006). The Value of Investment in Education: Theory, Evidence, and Policy. Journal of Education Finance. 32(2), 113-136.Purnastuti, L., dkk. (2011). Economic Return to Schooling in a Less Developed Country: Evidence for Indonesia. Diakses dari: http://kastoria.teikoz.gr/icoae2/, pada 20 Desember 2014.Purnastuti, L., dkk. (2015). Analisis Tingkat Pengembalian Investasi Pendidikan di Daerah Istimewa Yogyakarta. Prosiding Seminar Nasional 9 Mei 2015. Hlm. 797-806Purnastuti, L., Miller, P., dan Salim, R. (2013). Decilining Rates of Return to evidence for Indonesia. Bulletin of Indonesia Economic Studies.49(2), 213-236.Purnastuti, Losina., Miller, Paul., and Salim, Ruhul (2012). Economic Returns to Schooling in A Less Developed Country: Evidence for Indonesia. Journal of European Economy. Vol. 11. Sepecial Issue.Purnastuti, Losina., Miller, Paul., and Salim, Ruhul (2013). Declining rates of return to education: evidence for Indonesia, Bulletin of Indonesian Economic Studies.Schultz, Theodore, W (1961). Investment in Human Capital. Diakses dari: www.ssc.wisc.edu, pada 23 Februari 2015.

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27

Melianova, E., S. Parandekar, H. A. Patrinos, and A. Volgin. "Returns to Education in the Russian Federation: Some New Estimates." Higher School of Economics Economic Journal 25, no. 3 (2021): 403–22. http://dx.doi.org/10.17323/1813-8691-2021-25-3-403-422.

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28

Sulaimanova, Burulcha. "Returns to education: Empirical evidence from Kyrgyzstan." Journal of Applied Microeconometrics 1, no. 2 (December 29, 2021): 73–84. http://dx.doi.org/10.53753/jame.1.2.01.

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The aim of this study is to identify the returns to education in Kyrgyzstan, with special reference to employment type and gender differences. The empirical analysis of this study is based on Life in Kyrgyzstan (LiK) survey data collected in 2016. The sample for analysis is constructed with employees and self-employed persons aged 18-65, who indicated their monthly income from employment. According to the empirical outputs, there is a wage premium for higher education such that the marginal return to education for women is higher than men.

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29

Evans, M. D. R., and Jonathan Kelley. "The Legitimation of Rewards to Education." Comparative Sociology 21, no. 5 (October 28, 2022): 561–603. http://dx.doi.org/10.1163/15691330-bja10061.

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Abstract Everywhere, education is well rewarded, roughly 5% to 15% for each additional year of university, hence a major source of income inequality. Why do ordinary people see income rewards to education as legitimate? Two key theories: (1) their moral views might align with classical equity arguments asserting a moral entitlement to rewards in proportion to contributions. (2) Alternatively, they might see rewards to education as fair returns on investment, a morally infused folk version of human capital. These share almost all their predictions, but they differ if an employer fully finances the education. Analysis of a large representative Australian sample reveals that the public’s ideal returns to education match equity justifications (~80%), not economists’ fair return on investments (~10%).

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30

Maragakis, Antonios, Andy van den Dobbelsteen, and Alexandros Maragakis. "Is Higher Education Economically Unsustainable? An Exploration of Factors that Undermine Sustainability Assessments of Higher Education." Discourse and Communication for Sustainable Education 7, no. 2 (December 1, 2016): 5–16. http://dx.doi.org/10.1515/dcse-2016-0012.

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Abstract As students continue to review the sustainability of higher education institutions, there is a growing need to understand the economic returns of degrees as a function of a sustainable institution. This paper reviews a range of international research to summarize the economic drivers of higher education attainment. Although the cost inputs to higher education are fairly well understood, the economic return of a degree is not. Students misperception of economic returns coupled with a dynamic definition of employability create the framework for unsustainable debt loads for graduates. This paper proposes three metrics that can be used to assess the economic sustainability of students graduating higher education that can be used to supplement the broader definition of sustainability within higher education.

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31

Liu, Youcheng. "The Distinction of Having Different Level of Education in Determining Socio-economic Status." BCP Education & Psychology 7 (November 7, 2022): 416–22. http://dx.doi.org/10.54691/bcpep.v7i.2697.

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This paper would examine the roles that education played in current societies in determining one’s economic returns in the society, and the cause of the trend. When the world is experiencing rapid technological and social development, the role of education was continued to rise that it started to impact one’s economic return and social expectations and status. In estimating the different social changes resulted in the impacts, the paper could inform the economic returns between people with different level of education background. This paper would further explained how possessing higher education background could resulted in differences incomes and expectation from the society, and explained the causes of the pattern in the society corresponded to technological development and available of education for most of the people in the world, and aimed to drew the importance of having higher education importance in determining one’s socio-economic status that helped people recognized the importance of educations in the society and helped make decisions on their life upon education.

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32

Alvi, Eskander, and Seife Dendir. "Wage returns to education in Ethiopia." Oxford Development Studies 48, no. 1 (September 27, 2019): 70–84. http://dx.doi.org/10.1080/13600818.2019.1672145.

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33

Pereira, Pedro Telhado, and Pedro Silva Martins. "Returns to education and wage equations." Applied Economics 36, no. 6 (April 10, 2004): 525–31. http://dx.doi.org/10.1080/0003684042000217571.

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34

Chung, T. P. "Returns to education: updates for Malaysia." Applied Economics Letters 10, no. 13 (October 20, 2003): 837–41. http://dx.doi.org/10.1080/1350485032000138926.

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35

Ulrick, Shawn W. "Measuring the returns to education nonparametrically." Applied Economics Letters 14, no. 13 (October 2007): 1005–11. http://dx.doi.org/10.1080/13504850600706198.

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36

Stanovnik, Tine. "The returns to education in Slovenia." Economics of Education Review 16, no. 4 (October 1997): 443–49. http://dx.doi.org/10.1016/s0272-7757(97)00006-x.

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37

Dee, Thomas S. "Are there civic returns to education?" Journal of Public Economics 88, no. 9-10 (August 2004): 1697–720. http://dx.doi.org/10.1016/j.jpubeco.2003.11.002.

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38

Booth, A. L., and M. G. Coles. "Tax policy and returns to education." Labour Economics 17, no. 1 (January 2010): 291–301. http://dx.doi.org/10.1016/j.labeco.2009.03.005.

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Martins, Pedro S., and Jim Y. Jin. "Firm-level social returns to education." Journal of Population Economics 23, no. 2 (June 11, 2008): 539–58. http://dx.doi.org/10.1007/s00148-008-0204-9.

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40

Huntington-Klein, Nick. "Subjective and projected returns to education." Journal of Economic Behavior & Organization 117 (September 2015): 10–25. http://dx.doi.org/10.1016/j.jebo.2015.05.005.

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41

White, George L., Beth Hogan Henthorne, S. Eugene Barnes, and Jay T. Segarra. "Tuberculosis: A health education imperative returns." Journal of Community Health 20, no. 1 (February 1995): 29–57. http://dx.doi.org/10.1007/bf02260494.

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42

Canton, Erik. "Social Returns to Education: Macro-Evidence." De Economist 155, no. 4 (October 2, 2007): 449–68. http://dx.doi.org/10.1007/s10645-007-9072-z.

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43

Link, Charles R. "Returns to Nursing Education: 1970-84." Journal of Human Resources 23, no. 3 (1988): 372. http://dx.doi.org/10.2307/145835.

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44

Furno, Marilena. "Returns to education and gender gap." International Review of Applied Economics 28, no. 5 (May 7, 2014): 628–49. http://dx.doi.org/10.1080/02692171.2014.907243.

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Lassibille, G. "The Returns to Education in Rwanda." Journal of African Economies 14, no. 1 (March 1, 2005): 92–116. http://dx.doi.org/10.1093/jae/ejh035.

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Zhao, Litao. "Returns to education in rural China." Frontiers of Education in China 2, no. 1 (March 2007): 30–47. http://dx.doi.org/10.1007/s11516-007-0003-1.

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Alba-Ramírez, Alfonso, and María Jesús San Segundo. "The returns to education in Spain." Economics of Education Review 14, no. 2 (June 1995): 155–66. http://dx.doi.org/10.1016/0272-7757(95)90395-o.

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48

Böheim, René, and Mario Lackner. "Returns to education in professional football." Economics Letters 114, no. 3 (March 2012): 326–28. http://dx.doi.org/10.1016/j.econlet.2011.11.009.

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Tran, Ngoc Thi Minh. "Declining returns to investment in tertiary education in Vietnam." Science & Technology Development Journal - Economics - Law and Management 4, no. 3 (August 16, 2020): First. http://dx.doi.org/10.32508/stdjelm.v4i3.590.

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Abstract:

The human capital theory in economics argues that education is an investment in human capital and that the acquisition of knowledge and skills would enable individuals to increase their productivity and earnings, and thereby contributing to economic growth. As an investment, education incurs costs and benefits at various points in time. To measure economic benefits of education investment by individuals, economists use the rate of return to investment in education. This rate of return should be positive and higher than that of alternative options to ensure economic benefits of education investment and motivate education decisions. Given that tertiary education attainment is costly to individuals and the society at large, highly positive returns to tertiary education matter for individual and social human capital investments being economically justified. In the present age of mass access to tertiary education, the pattern of declining returns to investment in tertiary education was observed in a growing number of countries that include Vietnam. This trend may avert individual investment in human capital formation, and thereby negatively affecting national economic growth and development. To contribute to addressing this problem, the current paper aims to analyse the factors that drive the decay in returns to investment in tertiary education in Vietnam. Based on the descriptive research method using descriptive statistics, we summarize key trends in tertiary education in Vietnam. We identify that the abatement in returns to tertiary education investment in Vietnam may be attributed to three main factors: (i) the expansion of education supply, in particular tertiary education; (ii) the economic downturn after the global financial crisis; and (iii) the mismatched quality of tertiary education. These findings are foundations for our suggestions on possible solutions to inform the tertiary education development strategy.

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Wirz, Aniela Maria. "Private returns to education versus education spill-over effects." Empirical Economics 34, no. 2 (March 28, 2007): 315–42. http://dx.doi.org/10.1007/s00181-007-0124-7.

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