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Premium on Fields of Study : The Returns to Higher Education in Singapore

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Author Info

  • Yeo Khee Yong

    (Ministry of Manpower, Singapore, NUS)

  • Toh Mun Heng
  • Shandre Mugan Thangavelu
  • James Wong
Registered author(s):

    Abstract

    In summary, the returns to investment in education in Singapore tend to increase with years of schooling, with the returns to tertiary education generally higher than those for non-tertiary education. This is similar to the findings for other Asian newly industrialised economies like South Korea and Hong Kong. As the structure of Singapores economy shifts towards higher value-added and knowledge activities, there will continue to be an increase in the demand for skilled and educated human capital. We can thus expect the demand for workers with tertiary education to increase, which implies that the rate of returns to tertiary education is likely to remain high and above those for secondary and below education. Education will hence continue to be an attractive investment for individuals.

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    Bibliographic Info

    Paper provided by East Asian Bureau of Economic Research in its series Microeconomics Working Papers with number 21921.

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    Date of creation: Jan 2007
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    Handle: RePEc:eab:microe:21921

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    References

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    1. Bartel, Ann P & Lichtenberg, Frank R, 1987. "The Comparative Advantage of Educated Workers in Implementing New Technology," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 1-11, February.
    2. Hossain, Shaikh I., 1997. "Making education in China equitable and efficient," Policy Research Working Paper Series 1814, The World Bank.
    3. Chris Sakellariou, 2003. "Rates of Return to Investments in Formal and Technical/Vocational Education in Singapore," Education Economics, Taylor & Francis Journals, vol. 11(1), pages 73-87.
    4. Geeta Gandhi Kingdon, 1997. "Does the Labour Market Explain Lower Female Schooling in India?," STICERD - Development Economics Papers - From 2008 this series has been superseded by Economic Organisation and Public Policy Discussion Papers 01, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
    5. Mun Heng Toh & Chai Shing Wong, 1999. "Rates of Return to Education in Singapore," Education Economics, Taylor & Francis Journals, vol. 7(3), pages 235-252.
    6. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    7. Martins, Pedro S., 2004. "Firm-Level Social Returns to Education," IZA Discussion Papers 1382, Institute for the Study of Labor (IZA).
    8. Ryoo, Jai-Kyung & Nam, Young-Sook & Carnoy, Martin, 1993. "Changing rates of return to education over time: A Korean case study," Economics of Education Review, Elsevier, vol. 12(1), pages 71-80, March.
    9. Concetta, MENDOLICCHIO, 2005. "Gender and private returns to education : a cross-European analysis," Discussion Papers (ECON - Département des Sciences Economiques) 2005056, Université catholique de Louvain, Département des Sciences Economiques.
    10. Elchanan Cohn & John Addison, 1998. "The Economic Returns to Lifelong Learning in OECD Countries," Education Economics, Taylor & Francis Journals, vol. 6(3), pages 253-307.
    11. Carmen García Prieto & Angel Martín Román & Carlos Pérez Domínguez, . "Actual and potential returns to schooling in Spain," Studies on the Spanish Economy 157, FEDEA.
    12. Tansel, Aysit, 1994. "Wage employment, earnings and returns to schooling for men and women in Turkey," Economics of Education Review, Elsevier, vol. 13(4), pages 305-320.
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    Cited by:
    1. Atiq, Atiq-ur-Rehman & Anis, Hafsa & Khan, Saud Ahmed, 2009. "Skill Shortage versus Subject Choice, Case of Pakistan," MPRA Paper 18298, University Library of Munich, Germany.

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