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Globalization and the Return to Education in Australia


  • Nevile, J W
  • Saunders, Peter


R. Reich (1991) argues that globalization will increase the relative earnings of those whose occupation involves identifying and solving problems and managing ideas. Hence, the return to education, especially education in the form of a university degree, will rise. This paper examines the return to education in Australia in the 1980s and shows that, in the private sector, there has been a substantial rise in the relative earnings of graduates. Due to special circumstances there has been a fall in the public sector. Previous findings of little change are the result of aggregation problems. Copyright 1998 by The Economic Society of Australia.

Suggested Citation

  • Nevile, J W & Saunders, Peter, 1998. "Globalization and the Return to Education in Australia," The Economic Record, The Economic Society of Australia, vol. 74(226), pages 279-285, September.
  • Handle: RePEc:bla:ecorec:v:74:y:1998:i:226:p:279-85

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    References listed on IDEAS

    1. Raghuram G. Rajan & Luigi Zingales, 1998. "Power in a Theory of the Firm," The Quarterly Journal of Economics, Oxford University Press, vol. 113(2), pages 387-432.
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    8. Schmidt, Klaus M, 1996. "The Costs and Benefits of Privatization: An Incomplete Contracts Approach," Journal of Law, Economics, and Organization, Oxford University Press, vol. 12(1), pages 1-24, April.
    9. Oliver Hart & Andrei Shleifer & Robert W. Vishny, 1997. "The Proper Scope of Government: Theory and an Application to Prisons," The Quarterly Journal of Economics, Oxford University Press, vol. 112(4), pages 1127-1161.
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    11. Mark Armstrong & Simon Cowan & John Vickers, 1994. "Regulatory Reform: Economic Analysis and British Experience," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262510790, January.
    12. Pitchford, Rohan, 1995. "How Liable Should a Lender Be? The Case of Judgment-Proof Firms and Environmental Risk," American Economic Review, American Economic Association, vol. 85(5), pages 1171-1186, December.
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    Cited by:

    1. Sholeh A Maani, 2002. "Education and Maori Relative Income Levels over Time: The Mediating Effect of Occupation, Industry, Hours of Work and Locality," Treasury Working Paper Series 02/17, New Zealand Treasury.

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