Globalization and the Return to Education in Australia
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.
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Volume (Year): 74 (1998)
Issue (Month): 226 (September)
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