Journal ArticleDOI
Returns to investment in education: A global update
TLDR
In this paper, the authors discuss methodological issues surrounding those estimates and confirm that primary education continues to be the number one investment priority in developing countries, and also show that educating females is marginally more profitable than educating males, and that the academic secondary school curriculum is a better investment than the technical/vocational tract.About:
This article is published in World Development.The article was published on 1994-09-01. It has received 3182 citations till now. The article focuses on the topics: Education economics & Comparative education.read more
Citations
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Why Do Some Countries Produce so Much More Output Per Worker than Others
TL;DR: This paper showed that differences in physical capital and educational attainment can only partially explain the variation in output per worker, and that a large amount of variation in the level of the Solow residual across countries is driven by differences in institutions and government policies.
Journal ArticleDOI
Why do Some Countries Produce So Much More Output Per Worker than Others
Robert E. Hall,Charles I. Jones +1 more
TL;DR: This article showed that the differences in capital accumulation, productivity, and therefore output per worker are driven by differences in institutions and government policies, which are referred to as social infrastructure and called social infrastructure as endogenous, determined historically by location and other factors captured by language.
Posted Content
Finance and the Sources of Growth
TL;DR: Beck, Levine, and Loayza as mentioned in this paper evaluate whether the level of development in the banking sector exerts a causal impact on economic growth and its sources- total factor productivity growth, physical capital accumulation, and private saving.
Journal ArticleDOI
Finance and the sources of growth
TL;DR: In this article, the authors evaluate whether the level of development in the banking sector exerts a causal impact on economic growth and its sources-total factor productivity growth, physical capital accumulation, and private saving.
Posted Content
Returns to Investment in Education: A Further Update
TL;DR: In the 40-plus year history of estimates of returns to investment in education, there have been several reviews of the empirical results in attempts to establish patterns as discussed by the authors, and many more estimates from a wide variety of countries, including over time evidence, and estimates based on new econometric techniques, reaffirm the importance of human capital theory.
References
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Journal ArticleDOI
Sample Selection Bias as a Specification Error
TL;DR: In this article, the bias that results from using non-randomly selected samples to estimate behavioral relationships as an ordinary specification error or "omitted variables" bias is discussed, and the asymptotic distribution of the estimator is derived.
Book
Schooling, Experience, and Earnings
TL;DR: In this article, the authors analyzed the distribution of worker earnings across workers and over the working age as consequences of differential investments in human capital and developed the human capital earnings function, an econometric tool for assessing rates of return and other investment parameters.
Journal ArticleDOI
Does Compulsory School Attendance Affect Schooling and Earnings
TL;DR: This paper found that the season of birth is related to educational attainment and earnings, and that roughly 25 percent of potential dropouts remain in school because of compulsory schooling laws. But, they did not study the effect of compulsory attendance laws on educational attainment.
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Motivations to Remit: Evidence from Botswana
Robert E. Lucas,Oded Stark +1 more
TL;DR: In this paper, a theory of motivations to send remittances is described and tested with data from Botswana, where altruism is one of the motivations tested and found to be an insufficient explanation for remittance among migrants in Botswana.