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Returns to the Market: Valuing Human Capital in the Post- Transition Czech and Slovak Republics

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Author Info

  • Stepan Jurajda

    (CERGE-EI)

  • Randall K. Filer

    (Hunter College & the Graduate Center, CUNY ; CERGE-EI)

  • Jan Planovsky

    (CERGE-EI)

Abstract

An employer-based sample of over 660,000 Czech and 260,000 Slovak workers is used to estimate the benefits of education in 1995 to 1997. By 1997 education of all types had become substantially more highly rewarded in both countries than it was either under communism or in the early years of the transition. Education’s value began increasing earlier and reached a higher level in the Czech Republic than in Slovakia. Findings suggest that returns to unmeasured human capital or productive characteristics have also increased. Only eight years after the fall of communism, returns to human capital were on average as large or larger than in comparable, developed market economies.

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File URL: http://128.118.178.162/eps/dev/papers/0012/0012012.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Development and Comp Systems with number 0012012.

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Length: 26 pages
Date of creation: 19 Feb 2001
Date of revision:
Handle: RePEc:wpa:wuwpdc:0012012

Note: Type of Document - Acrobat PDF; pages: 26 ; figures: Included
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Web page: http://128.118.178.162

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  1. Krueger, Alan B. & Pischke, Jörn-Steffen, 1992. "A comparative analysis of East and West German labor markets before and after unification," ZEW Discussion Papers 92-11, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Orazem, Peter F. & Vodopivec, Milan, 1997. "Value of human capital in transition to market: Evidence from Slovenia," European Economic Review, Elsevier, vol. 41(3-5), pages 893-903, April.
  3. Edward J. Bird & Johannes Schwarze & Gert Wagner, 1994. "Wage effects of the move toward free markets in East Germany," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 47(3), pages 390-400, April.
  4. Richard B. Freeman & Lawrence F. Katz, 1995. "Differences and Changes in Wage Structures," NBER Books, National Bureau of Economic Research, Inc, number free95-1, May.
  5. Robert S. Chase, 1998. "Markets for communist human capital: Returns to education and experience in the Czech republic and Slovakia," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 51(3), pages 401-423, April.
  6. Robert J. Flanagan, 1995. "Wage Structure in the Transition of the Czech Economy," IMF Working Papers 95/36, International Monetary Fund.
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Cited by:
  1. Sergei Guriev & Barry W. Ickes, 2000. "Microeconomic Aspects of Economic Growth in Eastern Europe and the Former Soviet Union, 1950-2000," William Davidson Institute Working Papers Series 348, William Davidson Institute at the University of Michigan.
  2. Mihails Hazans & Ija Trapeznikova & Olga Rastrigina, 2008. "Ethnic and parental effects on schooling outcomes before and during the transition: evidence from the Baltic countries," Journal of Population Economics, Springer, vol. 21(3), pages 719-749, July.
  3. Václav Urbánek & Kateřina Maršíková-Nepolská, 2005. "Financial Market in the Czech Republic and Human Capital Investment: Private Financing of Higher Education," Prague Economic Papers, University of Economics, Prague, vol. 2005(2), pages 131-146.
  4. Filer, Randall K. & Jurajda, Stepan & Planovsky, Jan, 1999. "Education and wages in the Czech and Slovak Republics during transition," Labour Economics, Elsevier, vol. 6(4), pages 581-593, November.
  5. Andrew Clark, 2000. "The Returns and Implications of Human Capital Investment in a Transition Economy: An Empirical Analysis for Russia 1994-1998," CERT Discussion Papers 0002, Centre for Economic Reform and Transformation, Heriot Watt University.
  6. Nauro F. Campos & Dean Jolliffe, 2002. "After, Before and During: Returns to Education in the Hungarian Transition," William Davidson Institute Working Papers Series 475, William Davidson Institute at the University of Michigan.

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