Investment in Human Capital under Economic Transformation in Russia
Nesterova Daria () and
Sabirianova Klara ()
Authors registered in the RePEc Author Service: Klara Sabirianova Peter ()
EERC Working Paper Series from EERC Research Network, Russia and CIS
This paper employs the data from Russian Longitudinal Monitoring Survey (RLMS) to study human capital determinants of wage and employment changes from 1992 to 1996. We analyze how returns to schooling are changing over the transition period in Russia. The evidence shows that at the beginning of economic reforms (1992-1994) unconstrained wage setting shifted returns in favor of more educated individuals. But the consequent structural changes along with devaluation of some skills and reduction of supply of skilled jobs lead to a decline in the rates of return to schooling. The returns to experience also tend to decline substantially. Compared with workers of state-owned and privatized companies, workers of new private firms have greater returns to schooling and smaller returns to experience. We also find robust evidence of a strong impact on wages caused by firm–specific and regional characteristics. Among other results, higher education tends to reduce the probability of exit from employment and unemployment.
Keywords: human capital; earnings function; returns to education; returns to experience; age-earnings-education profiles; labor market flows; unemployment; transition economy (search for similar items in EconPapers)
JEL-codes: J24 J41 J60 J64 O15 P24 P52 (search for similar items in EconPapers)
Pages: 52 pages
New Economics Papers: this item is included in nep-dev, nep-edu, nep-lab and nep-ltv
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