ZERO RETURNS TO HIGHER EDUCATION: EVIDENCE FROM A NATURAL EXPERIMENT
Stanislav Avdeev ()
HSE Working papers from National Research University Higher School of Economics
Although many papers estimate returns to education, little causal evidence has been found for low- and middle-income countries. This paper estimates the causal effect of one year of university education on wages and employment in Russia. In 2011, the Bologna reform shortened the university study period by one year and reduced the content of the curricula but did not change the quality of admitted students. I exploit this reform as a natural experiment and use a difference-in-differences design. I find no adverse effect of a one-year reduction on wages and on the probability of being employed. This suggests that the reform lowered the opportunity costs of education but did not affect the accumulation of specific skills relevant for the labour market.
Keywords: difference-in-differences; returns to education; human capital; higher education; employment; wages; Bologna reform; Russia (search for similar items in EconPapers)
JEL-codes: I23 I26 J24 (search for similar items in EconPapers)
Pages: 41 pages
New Economics Papers: this item is included in nep-cis, nep-edu, nep-lma and nep-tra
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Published in WP BRP Series: Economics / EC, September 2020, pages 1-41
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Persistent link: https://EconPapers.repec.org/RePEc:hig:wpaper:236/ec/2020
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