The Benefits and Costs of Alternative Strategies to Improve Educational Outcomes
Few empirical relationships have been investigated more frequently than that between years of schooling and earnings. Hundreds of studies using a wide variety of datasets from developed countries, spanning many decades, and employing alternative specifications to correct for various potential sources of bias, have consistently found positive private returns per year of schooling.• Returns arc frequent ly equal to or above long-run average market returns to other investments.
This is a chapter from Global Crises, Global Solutions (2009): 180. Posted with permission.