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Schooling and monetary rewards in Greece: an over-education false alarm?

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  • Theocharoula Magoula
  • George Psacharopoulos

Abstract

The paper uses data from the 1993-94 household survey to investigate a number of issues stemming from the current educational policy debate in Greece. Private and social returns to investment in education are estimated and a test of the screening hypothesis is conducted. No evidence was found that higher education is being used as a screening device, and the returns to investment in education have been maintained to just below their level in the 1960s. The central finding of the paper is that the fear of further expansion of the university system is highly exaggerated, and that the economy could absorb even larger amounts of highly educated manpower. Of course, such expansion could not take place unless there is an end of the state monopoly on the financing and provision of tertiary education.

Suggested Citation

  • Theocharoula Magoula & George Psacharopoulos, 1999. "Schooling and monetary rewards in Greece: an over-education false alarm?," Applied Economics, Taylor & Francis Journals, vol. 31(12), pages 1589-1597.
  • Handle: RePEc:taf:applec:v:31:y:1999:i:12:p:1589-1597
    DOI: 10.1080/000368499323111
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    Citations

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    Cited by:

    1. Tsakloglou, Panos & Cholezas, Ioannis, 2005. "Education and Inequality in Greece," IZA Discussion Papers 1582, Institute for the Study of Labor (IZA).
    2. Benos, Nikos & Karagiannis, Stelios, 2016. "Do education quality and spillovers matter? Evidence on human capital and productivity in Greece," Economic Modelling, Elsevier, vol. 54(C), pages 563-573.
    3. A. Nikolaou & I. Theodossiou, 2006. "Returns to qualifications and occupation for males and females: evidence from the British Workplace Employee Relations Survey (WERS) 1998," Applied Economics Letters, Taylor & Francis Journals, vol. 13(10), pages 665-673.
    4. Livanos, Ilias & Pouliakas, Konstantinos, 2009. "The Gender Wage Gap as a Function of Educational Degree Choices in an Occupationally Segregated EU Country," IZA Discussion Papers 4636, Institute for the Study of Labor (IZA).
    5. Pouliakas, Konstantinos & Livanos, Ilias, 2008. "The Gender Wage Gap as a Function of Educational Degree Choices in Greece," MPRA Paper 14168, University Library of Munich, Germany, revised 19 Mar 2009.
    6. Benos, Nikos & Karagiannis, Stelios, 2013. "Do Cross-Section Dependence and Parameter Heterogeneity Matter? Evidence on Human Capital and Productivity in Greece," MPRA Paper 53326, University Library of Munich, Germany.
    7. Antonopoulos, Christos & Sakellaris, Plutarchos, 2009. "The contribution of Information and Communication Technology investments to Greek economic growth: An analytical growth accounting framework," Information Economics and Policy, Elsevier, vol. 21(3), pages 171-191, August.
    8. Livanos, Ilias & Pouliakas, Konstantinos, 2008. "Returns to education by academic discipline in the Greek labour market," MPRA Paper 14159, University Library of Munich, Germany.
    9. Psacharopoulos, George & Papakonstantinou, George, 2005. "The real university cost in a "free" higher education country," Economics of Education Review, Elsevier, vol. 24(1), pages 103-108, February.

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