Human capital and wage inequality during transition: evidence from Bulgaria

Penka Kovacheva

Post-Communist Economies, 2011, vol. 23, issue 2, 237-255

Abstract: This article examines changes in human capital returns and their impact on wage inequality during Bulgaria's transition to a market economy. Using household data spanning the transition period 1995-2003, I find that returns to human capital differ by age. Returns to experience are low as the market economy devalues experience acquired pre-1990. Returns to education also start low but increase over time. This increase is driven by young cohorts receiving higher returns for education acquired post-1990 and middle-aged cohorts receiving higher returns over time. I estimate that these rising returns account for over 77% of the growth in wage inequality.

Date: 2011
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DOI: 10.1080/14631377.2011.570052

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