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Investment in Human Capital Through Post-Compulsory Education and Training: Selected Efficiency and Equity Aspects

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  • Sveinbjörn Blöndal
  • Simon Field
  • Nathalie Girouard

Abstract

This paper examines various efficiency and equity aspects related to the skill acquisition of young people and older adults. The analysis suggests that such human capital investment is associated with significant labour-market gains for individuals, including higher post-tax earnings and better employment prospects, which exceed the investment costs, mainly foregone earnings and tuition fees, by a significant margin. It also shows that the net benefits are strongly influenced by policy-related factors, such as study length, tuition subsidies and student support. Overall, the estimates reported in the paper indicate that there are strong incentives for the average student to continue studying beyond the compulsory schooling age, and also point to the benefits of such investment in education for society as a whole. However, the net gains fall with age, mainly reflecting a shorter period to take advantage of the benefits that come with education. Finally the paper notes that students ... Investissement en capital humain au travers de l'éducation et la formation post-obligatoires Le présent document porte sur divers aspects de l'équité et de l'efficience qui sont liés à l'acquisition de qualifications par les jeunes et les adultes relativement âgés. L'analyse donne à penser que ce type d'investissement dans le capital humain procure aux personnes d'importants avantages sur le marché du travail, notamment des gains, après impôt, plus élevés et de meilleures perspectives d'emploi, avantages qui compensent largement le coût des investissements, c'est à dire, principalement, le manque à gagner et les frais d'études. Il ressort également de cette analyse que les avantages nets varient considérablement sous l'effet de facteurs liés à l'action des pouvoirs publics, tels que la durée de la scolarisation, les allocations d'études, et le soutien apporté aux élèves. Globalement, les estimations indiquées dans le rapport montrent que l'élève moyen serait fortement incité à poursuivre ses études audelà de l'âge de l'obligation scolaire et elles mettent également en ...

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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Economics Department Working Papers with number 333.

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Date of creation: 11 Jul 2002
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Handle: RePEc:oec:ecoaaa:333-en

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Related research

Keywords: human capital; taxes; student support; earnings; unemployment; impôt; gains; équité; soutien aux élèves; chômage; capital humain;

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Cited by:
  1. Douglas Sutherland & Peter Hoeller & Rossana Merola, 2012. "Fiscal Consolidation: Part 1. How Much is Needed and How to Reduce Debt to a Prudent Level?," OECD Economics Department Working Papers 932, OECD Publishing.
  2. Alberto BUCCI, 2004. "Economic growth in an enlarged Europe: the human capital and R&D dimensions," Departmental Working Papers 2004-22, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
  3. Angel De la Fuente & Juan F. Jimeno, 2005. "The Private and Fiscal Returns to Schooling and the Effect of Public Policies on Private Incentives to Invest in Education: A General Framework and Some Results for the EU," CESifo Working Paper Series 1392, CESifo Group Munich.
  4. Jonathan Bradshaw & Petra Hoelscher & Dominic Richardson, 2007. "An Index of Child Well-being in the European Union," Social Indicators Research, Springer, vol. 80(1), pages 133-177, January.
  5. Michael Voigtländer, 2005. "Qualitative und quantitative Aspekte einer Elternrente?," List Forum Chapter, in: List Forum Band 31, edition 1, volume 3, chapter 13, pages 215-230 List Gesellschaft e.V..
  6. Giorgio Brunello & Daniele Checchi, 2003. "School Quality and Family Background in Italy," Working Papers 2003.10, Fondazione Eni Enrico Mattei.
  7. Dario Maldonado, 2007. "The design of optimal education policies when individuals differ in inherited wealth and ability," DOCUMENTOS DE TRABAJO 003975, UNIVERSIDAD DEL ROSARIO.
  8. Sohnesen, Thomas Pave & Blom, Andreas, 2005. "Is formal lifelong learning a profitable investment for all of life ? How age, education level, and flexibility of provision affect rates of return to adult education in Colombia," Policy Research Working Paper Series 3800, The World Bank.
  9. Regula Geel & Uschi Backes-Gellner, 2011. "Career Entry and Success After Tertiary Vocational Education," Economics of Education Working Paper Series 0052, University of Zurich, Institute for Strategy and Business Economics (ISU).
  10. Robert P. Hagemann, 2012. "Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation?," OECD Economics Department Working Papers 937, OECD Publishing.
  11. Hans-Peter Klös & Axel Plünnecke, 2003. "Human Capital Formation in Germany: An Untapped Potential," CESifo DICE Report, Ifo Institute for Economic Research at the University of Munich, vol. 1(4), pages 39-45, 02.
  12. Sutherland, Douglas, 2012. "Fiscal Consolidation Needs and Implications for Growth," MPRA Paper 38745, University Library of Munich, Germany.
  13. Andrew D. Colegrave, 2006. "Why Study at a Mature Age? An Analysis of the Private Returns to Universtity Education in Australia," Economics Discussion / Working Papers 06-11, The University of Western Australia, Department of Economics.
  14. Mary Canning & Martin Godfrey & Dorota Holzer-Zelazewska, 2007. "Higher Education Financing in the New EU Member States : Leveling the Playing Field," World Bank Publications, The World Bank, number 6740, January.
  15. Nigel C. O’Leary & Peter J. Sloane, 2005. "The Return to a University Education in Great Britain," National Institute Economic Review, National Institute of Economic and Social Research, vol. 193(1), pages 75-89, July.

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