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External Return to Education in Europe

Pawel Strawinski ()

No 2009-09, IRISS Working Paper Series from IRISS at CEPS/INSTEAD

Abstract: This paper provides an international comparison of external rates of return to education. As is pointed out in the literature social return rate exceeds the pure technical rate of return by a considerable margin. However, measuring social return is delicate due to methodological and data problems. The exploited approach is based on a comparative advantage theory. It allows us to control for potential endogeneity problem and a self-selection into different education regimes. We find that external return is positive in all European countries. However the magnitude of these returns varies. It seems that the external return is higher in small economies in which the number of highly educated people is low.

Keywords: return to education; private return; social return (search for similar items in EconPapers)
JEL-codes: I21 O15 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2009-08
New Economics Papers: this item is included in nep-edu, nep-eec, nep-hrm and nep-lab
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