Private Returns to Levels of Education in Turkey: Evidence from Panel Data
Along with the emergence of the concept of human capital, therehas been an increase in research on the economic contribution of education. Oneof the most important reasons to invest in education is wage differentials. Butthere are many direct and indirect, private and social contributions ofeducatio...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Ankara University
2020-04-01
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| Series: | Ankara Üniversitesi Eğitim Bilimleri Fakültesi Dergisi |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/download/article-file/1036531 |
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| Summary: | Along with the emergence of the concept of human capital, therehas been an increase in research on the economic contribution of education. Oneof the most important reasons to invest in education is wage differentials. Butthere are many direct and indirect, private and social contributions ofeducation. Because of these reasons demand for education has been increasing.There are different stages of education from primary education to highereducation and each education level has a different economic return. Therefore,the main purpose of this study is to investigate whether there is a positiverelationship between education and wage income and whether the rate of returnto education vary for different levels of education. This study uses Income andLiving Conditions Survey Panel Dataset provided by the Turkish StatisticalInstitute covering from years 2008-2011 and 2012-2015 and employs paneleconometric methods, considering the endogeneity problem, to estimate bothprivate returns to education and each level of education. The study concludesthat increases in educational level affect the income levels in the samedirection but at different rates. |
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| ISSN: | 1301-3718 |