Estimating pecuniary and non-Pecuniary returns to college education for academically marginal students: Evidence from the college enrollment quota policy in south korea

Taehoon Kim

Economics of Education Review, 2021, vol. 83, issue C

Abstract: This paper investigates pecuniary and non-pecuniary returns to college education for academically marginal students in South Korea. The Korean government limits the number of admission slots at each college by assigning a quota for each year, and the quota is binding. An increase in the quota allows more academically marginal students to enter college. The IV estimation using differences in the ratio of 4-year college quotas to cohort size across regions and cohorts shows that 4-year college attendance of marginal students increases hourly wages by 60.3%-75.5%. College education also increases fringe benefits, life, and job satisfaction.

Keywords: Returns to college education; College enrollment quota; Academically marginal student; Non-pecuniary returns (search for similar items in EconPapers)
JEL-codes: H75 I23 I26 I28 J24 J30 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecoedu:v:83:y:2021:i:c:s0272775721000613

DOI: 10.1016/j.econedurev.2021.102142

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