Volume 20, Number 4 (Fall) 1985
Psacharopoulos, George. 1985. "Returns to Education: A Further International Update and Implications." Journal of Human Resources 20(4):583-604.
This paper updates evidence on the returns to investment in education by adding estimates for new countries and refining existing estimates to bring the total number of country cases to over 60. The new cross-country evidence confirms and reinforces earlier patterns, namely, that returns are highest for primary education, the general curricula, the education of women, and countries with the lowest per capita income. The findings have important implications for directing future investment in education which, for efficiency and equity purposes, should concentrate on these priority areas.
The author is an Economist in the Education and Training Department of the
World Bank.
I am grateful to all those who over the years have kept me
informed on their work, and especially those who by correspondence provided
clarifications so that the figures appearing here are more comparable. The views
expressed are those of the author and should not be attributed to the World
Bank.
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