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Changes in private returns to education caused by the tertiary education expansion in Slovakia

Author

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  • Miroslav Stefanik

    (Institute for Economic Research, Slovak Academy of Sciences)

Abstract

This article brings evidence on tertiary education expansion in Slovakia and explores possible effects of this expansion on private returns to education. It focuses particularly on intergenerational differences in private returns to education. The question is whether tertiary education expansion has decreased private returns to education and whether there are differences in the value of education acquired by different generations. European Union Community Statistics on Income and Living Conditions data were used to answer this question. Private returns to education were estimated using a standard Mincerian approach. The value of tertiary education of persons under 45 years old showed to be behaving differently in time than the value of tertiary education of persons aged 45 and older. This development may be caused by the recent tertiary education expansion in Slovakia.

Suggested Citation

  • Miroslav Stefanik, 2011. "Changes in private returns to education caused by the tertiary education expansion in Slovakia," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 1(2), pages 167-176, December.
  • Handle: RePEc:rse:wpaper:v:1:y:2011:i:2:p:167-176
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    File URL: http://reaser.eu/RePec/rse/wpaper/22Rev2_20_Stefanik.pdf
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    References listed on IDEAS

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    1. Flabbi, Luca & Paternostro, Stefano & Tiongson, Erwin R., 2008. "Returns to education in the economic transition: A systematic assessment using comparable data," Economics of Education Review, Elsevier, vol. 27(6), pages 724-740, December.
    2. Ewart Keep, 2004. "The Economic and Distributional Implications of Current Policies on Higher Education," Oxford Review of Economic Policy, Oxford University Press, vol. 20(2), pages 298-314, Summer.
    3. Robert S. Chase, 1997. "Markets for Communist Human Capital: Returns to Education and Experience in the Czech Republic and Slovakia," William Davidson Institute Working Papers Series 109, William Davidson Institute at the University of Michigan.
    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. Chase, Robert S., 1997. "Markets for Communist Human Capital: Returns to Education and Experience in the Czech Republic and Slovakia," Center Discussion Papers 28391, Yale University, Economic Growth Center.
    6. Chase, R.S., 1997. "Markets for Communist Human Capital: Returns to Education and Experience in the Czech Republic and Slovakia," Papers 770, Yale - Economic Growth Center.
    7. Robert S. Chase, 1997. "Markets for Communist Human Capital: Returns to Education and Experience in the Czech Republic and Slovakia," Working Papers 770, Economic Growth Center, Yale University.
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    More about this item

    Keywords

    private returns to education; tertiary education expansion;

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy

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