High education efficiency wages in Colombia

Elcira Solano Benavides () and Gabriel Navarro ()
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Elcira Solano Benavides: Programa de Economía, Facultad de Ciencias Económicas, Universidad del Atlántico. Dirección: kilómetro 7 antigua vía a Puerto Colombia, Barranquilla, Colombia. Código postal: 0800010000.
Gabriel Navarro: Programa de Economía, Facultad de Ciencias Económicas, Universidad del Atlántico. Dirección: kilómetro 7 antigua vía a Puerto Colombia, Barranquilla, Colombia. Código postal 0800010000.

Economía, 2012, vol. 37, issue 33, 43-63

Abstract: This article will analyze the salaries of public universities in Colombia in an agency microeconomic model with moral hazard. Subsequently this article will examine the monetary incentives implicit in the decrees 1444 and 1279 that regulate the wages of professors from all public universities in Colombia. Lastly, a hierarchal lineal model will be applied to verify whether monetary incentives impact the academic development of students from the University of Atlantico. A synthesis of the results can be noted as follow: the legislation that regulates the wages of university professors in Colombia helps promote productivity. In addition, the hierarchal model has shown that monetary incentives, specialized libraries, economic status, and the academic trajectory of students have a positive effect in the exam of the State.

Keywords: Quality of education; agency model; multilevel analysis; efficiency wages. (search for similar items in EconPapers)
JEL-codes: A22 C39 D86 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:ula:econom:v:37:y:2012:i:33:p:43-63

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