Returns to Education Revisited and Effects of Education on Household Welfare in Nigeria

Kolawole Ogundari ()

No 136051, 2012 Conference, August 31, 2012, Nelson, New Zealand from New Zealand Agricultural and Resource Economics Society

Abstract: Human capital development, especially higher educational attainment attaches high premium to human skills as an important factor of production. In view of this, the objective of the study is defined in two folds; first, to revisit returns to education in Nigeria and second, to investigate effects of education on the economic welfare of households in Nigeria. The study uses Double Hurdle (DH) model and Quantile Regression (QR), respectively for the objective one and two. Thus, our findings show that returns to schooling (i.e., labour market earnings) at primary, secondary and postgraduate levels are very low relative to schooling at the tertiary education in Nigeria. Also, we find the effects of primary, secondary and postgraduate education on household economic welfare to be substantially lower compared with that of tertiary education in the country. The implication of these findings is that investment up to completing tertiary education is vital for higher welfare through increasing labour market earnings among households in Nigeria.

Keywords: Community/Rural/Urban Development; Industrial Organization; Production Economics; Public Economics (search for similar items in EconPapers)
Pages: 28
Date: 2012-08
New Economics Papers: this item is included in nep-afr, nep-dev, nep-edu and nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nzar12:136051

DOI: 10.22004/ag.econ.136051

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