Schooling and National Income: How Large Are the Externalities? Corrected Estimates

Theodore Breton ()

No 11828, Documentos de Trabajo de Valor Público from Universidad EAFIT

Abstract: This article presents revised estimates of the external rates of return on investment in schooling provided in “Schooling and National Income: How Large Are the Externalities?” The analysis is based on data for the same set of countries, but it incorporates methodological improvements that yield lower estimates of these rates. The revised marginal external rates of return range from four percent in the highest-income countries to about 35 percent in the lowest-income countries. These rates are about half the private rates of return in high-income countries and about double the private rates in the lowest-income countries.

Keywords: Human Capital; Education; Schooling; Economic Growth; External Benefits (search for similar items in EconPapers)
JEL-codes: E13 I21 O11 O15 O41 (search for similar items in EconPapers)
Pages: 21
Date: 2010-08-18
References: Add references at CitEc
Citations: View citations in EconPapers (3)

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