A Study on Regional Return to Education in South Korea: Comparison of Male and Female Wages

JongSoo Lee and Bit Na Choi
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JongSoo Lee: Department of Economics, University of Kansas
Bit Na Choi: The Department of Mathematics and Statistics, The University of New Hampshire, Durham, New Hampshire

No 202311, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics

Abstract: This study examined the return to education in South Korea between metropolitan areas and non-metropolitan areas. In doing so, we used the Korean Labor and Income Panel Study 2018 and 2019 using the Mincer equation with fixed effects. We find that female workers' return to education was higher than male workers. In metropolitan areas, male workers' return to education was 5.4%, and female workers' return to education was 8.1%, while, in non-metropolitan areas, male workers' return to education was 5.4%, and female workers' return to education was 9.0%. Using the Oaxaca decomposition method, we find that private academies increase differential treatment between men and women while public education decreases the gap. RDD method shows that, in the non-metropolitan area, the income difference between respondents who went to universities and those who did not was more significant than in the metropolitan area. It suggests that by region the university premium is significantly different.

Keywords: Human capital; Regional return to education; Oaxaca decomposition; Regression discontinuity design. (search for similar items in EconPapers)
JEL-codes: E24 I26 (search for similar items in EconPapers)
Date: 2023-11
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