Returns to Education in Azerbaijan: Some New Estimates

Vicente A. Garcia Moreno and Harry Patrinos

No 9117, Policy Research Working Paper Series from The World Bank

Abstract: This paper estimates private and social returns to investment in education in Azerbaijan, using the 2015 Azerbaijan Monitoring Survey for Social Welfare. The private rate of return to education is 6 percent; this is the first estimate of returns to schooling in Azerbaijan since 1995. The returns to schooling are 6 percent for men and 8 percent for women, even controlling for selection. In addition, the paper estimates the returns for higher education; for this level, the rate of return is 9 percent. Finally, using the full discount method, the private rate of return to tertiary education is 9 percent, and the social rate of return is 8 percent. One policy implication is to re-examine the funding of higher education and for its expansion.

Date: 2020-01-22
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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:9117

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