Publication in refereed journal
香港中文大学研究人员 ( 现职)
| 廖柏伟教授 (经济学系) |
| 张俊森教授 (经济学系) |
全文
| 数位物件识别号 (DOI) http://dx.doi.org/10.1016/j.jdeveco.2011.05.009 |
引用次数
Web of Sciencehttp://aims.cuhk.edu.hk/converis/portal/Publication/18WOS source URL
其它资讯
摘要This paper empirically estimates the return to education using twins data that the authors collected from urban China. Our ordinary least-squares estimate shows that one year of schooling increases an individual's earnings by 8.4%. If we use a within-twin fixed effects model, the return is reduced to 2.7%, but rises to 3.8% after the correction of measurement error. These results suggest that a large portion of the estimated returns to education is due to omitted ability or the family effect. We further investigate why the true return is low and the omitted ability bias high, and find evidence showing that it may be a consequence of China's education system, which is highly selective and exam oriented. More specifically, we find that high school education may mainly serve as a mechanism to select college students, but as a human capital investment per se it has low returns in terms of earnings. In contrast, both vocational school education and college education have a large return that is comparable to that found in the United States. (C) 2011 Elsevier B.V. All rights reserved.
着者Li HB, Liu PW, Zhang JS
期刊名称Journal of Development Economics
出版年份2012
月份3
日期1
卷号97
期次2
出版社Elsevier
页次494 - 504
国际标準期刊号0304-3878
电子国际标準期刊号http://aims.cuhk.edu.hk/converis/portal/Publication/1872-6089
语言英式英语
关键词China; Returns to education; Twins
Web of Science 学科类别Business & Economics; Economics; ECONOMICS
