Do higher levels of education and skills in an area benefit wider society?
John Winters ()
IZA World of Labor, 2018, No 130v2, 10 pages
Formal schooling increases earnings and provides other individual benefits. However, societal benefits of education may exceed individual benefits. Research finds that higher average education levels in an area are correlated with higher earnings, even for local residents with minimal education. Science, technology, engineering, and mathematics (STEM) graduates appear to generate especially strong external effects, due to their role in stimulating innovation and economic growth. Several strategies to test for causality find human capital externalities do exist.
Keywords: human capital; education; schooling; externalities; earnings; employment (search for similar items in EconPapers)
JEL-codes: J2 R2 I2 (search for similar items in EconPapers)
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Journal Article: Do higher levels of education and skills in an area benefit wider society? (2015)
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