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What drives social returns to education? A meta-analysis

Ying Cui () and Pedro Martins

No 706, GLO Discussion Paper Series from Global Labor Organization (GLO)

Abstract: Education can generate important externalities that contribute towards economic growth and convergence. In this paper, we study the drivers of such externalities by conducting the first meta-analysis of the social returns to education literature. We analyse over 1,000 estimates from 31 articles published since 1993 that cover 15 countries. Our results indicate that: 1) spillovers slow down with economic development; 2) tertiary schooling and schooling dispersion increase spillovers; 3) spillovers are smaller under fixed-effects and IV estimators but larger when measured at the firm level; and 4) there is publication bias (but not citation bias).

Keywords: returns to education; education externalities (search for similar items in EconPapers)
JEL-codes: C36 I26 I28 J24 J31 (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-edu and nep-lma
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Working Paper: What Drives Social Returns to Education? A Meta-Analysis (2021) Downloads
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