The Returns to Education in Thailand: A Pseudo-Panel Approach

Sasiwimon Warunsiri and Robert McNown
Authors registered in the RePEc Author Service: Sasiwimon Warunsiri Paweenawat

World Development, 2010, vol. 38, issue 11, 1616-1625

Abstract: Summary This study employs the pseudo-panel approach for estimating returns to education in Thailand, while treating the endogeneity bias common to estimates from data on individuals. Pseudo-panel data are constructed from repeated cross-sections of Thailand's National Labor Force Surveys of workers born during 1946-67. Estimates show a downward bias of the returns to education in least squares regressions with individual data, a result confirmed with instrumental variable estimation. The overall rate of return is between 14% and 16%. Females have higher returns than males, and workers in urban areas have higher returns than those in rural areas.

Keywords: returns; to; education; pseudo-panel; synthetic; cohort; IV; estimators; Asia; Thailand (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (45)

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