After, Before and During: Returns to Education in the Hungarian Transition

Nauro Campos and Dean Jolliffe

No 475, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: How valuable are the education and skills acquired under socialism in a market economy? This paper uses data for about 3 million Hungarian wage earners, from 1986 to 1998, to throw light on this question. We find that returns to schooling reach 10 percent early on and remain at this high level. These estimates are larger than for other transition economies, but similar to those for middle-income developing countries. With the gap in average years of schooling unremitting, we argue that the Hungarian stock of human capital is considerably less than the existing figures have led us to believe.

Keywords: Human Capital; Labor Markets; Transition Economies; Hungary (search for similar items in EconPapers)
JEL-codes: I20 J20 J24 J31 O15 O52 P20 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2002-04-01
New Economics Papers: this item is included in nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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