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Rates of Return to Schooling in Latin America

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  • Martin Carnoy

Abstract

Estimates of the rate of return to schooling, by level, have now been made for four Latin American countries: Chile, Colombia, Mexico, and Venezuela. The article presents a summary of the author's own results for Mexico and compares these results with the rates derived for the other three economies. The comparisons show that, although patterns of rates vary, Mexico and Venezuela-which experienced rapid economic growth in the 10-year period preceding the estimates-appear to have higher rates of return to primary and university students than do Chile and Colombia. A stronger but more tentative hypothesis is that there is a positive correlation between rates of growth and rates of return to both primary and university schooling. This may imply that in rapid growth situations it is these two levels that require the largest increases in investment. The comparison also brings out two other interesting points: (1) rapid investment in education is not a sufficient condition for economic growth; and (2) the average rate of return to schooling seems to be generally higher than the rate of return to physical capital, but the two rates are positively correlated.

Suggested Citation

  • Martin Carnoy, 1967. "Rates of Return to Schooling in Latin America," Journal of Human Resources, University of Wisconsin Press, vol. 2(3), pages 359-374.
    • Handle: RePEc:uwp:jhriss:v:2:y:1967:i:3:p:359-374
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    Citations

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    Cited by:

    1. Carciofi, Ricardo, 1980. "Acerca del debate sobre educación y empleo en América Latina," Oficina de la CEPAL en Buenos Aires (Estudios e Investigaciones) 28557, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Enrique Cuevas Rodríguez, 2016. "Rendimientos monetarios de la escolaridad. Un análisis por grados de marginación y desigualdad educativa en México. Monetary returns of schooling. marginalization and educational inequality analysis f," Economia Coyuntural,Revista de temas de perspectivas y coyuntura, Instituto de Investigaciones Economicas y Sociales 'Jose Ortiz Mercado' (IIES-JOM), Facultad de Ciencias Economicas, Administrativas y Financieras, Universidad Autonoma Gabriel Rene Moreno, vol. 1(3), pages 23-72.
    3. Samuel H. Preston, 1980. "Causes and Consequences of Mortality Declines in Less Developed Countries during the Twentieth Century," NBER Chapters, in: Population and Economic Change in Developing Countries, pages 289-360, National Bureau of Economic Research, Inc.
    4. Irias, Luiz Jose Maria & Avila, Antonio Flavio Dias, 1987. "Returns to Investment in Training of Agricultural Researchers," 1987 Occasional Paper Series No. 4 197419, International Association of Agricultural Economists.
    5. Venkataramani, Atheendar S., 2012. "Early life exposure to malaria and cognition in adulthood: Evidence from Mexico," Journal of Health Economics, Elsevier, vol. 31(5), pages 767-780.
    6. Quinn, Michael A. & Rubb, Stephen, 2006. "Mexico's labor market: The importance of education-occupation matching on wages and productivity in developing countries," Economics of Education Review, Elsevier, vol. 25(2), pages 147-156, April.
    7. Ahmad Rizki Sridadi & Gigih Prihantono, 2018. "Gender Inequality in Wage Rate in Indonesia," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(3), pages 160-160, February.

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