Earnings, Schooling and Economic Reform: New Econometric Evidence

Nauro Campos and Dean Jolliffe

No 4716, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: How does the relationship between earnings and schooling change with the introduction of comprehensive economic reform? This Paper uses a unique dataset (covering about 3 million Hungarian wage earners, from 1986 to 1998) and a novel procedure to correct sample selection bias (based on DiNardo, Fortin and Lemieux’s) to shed light on this question. We find that reform was successful in general, increasing returns to skill by 70.5%, but that there were winners and losers. The winners seem to be the college and university educated, those employed by the smaller firms and those in commerce and services. The losers are those in manufacturing and agriculture and, surprisingly, those who received their formal education after the initiation of reform.

Keywords: Human capital; Economic reform; Transition economics (search for similar items in EconPapers)
JEL-codes: I20 J20 J24 J31 O15 O52 P20 (search for similar items in EconPapers)
Date: 2004-10
New Economics Papers: this item is included in nep-edu and nep-lab
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