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Private and Social Returns to Investment in Education: the Case of Turkey with Alternative Methods

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  • Harry Anthony Patrinos
  • George Psacharopoulos
  • Aysit Tansel

Abstract

This paper estimates private and social returns to investment in education in Turkey, using the 2017 Household Labour Force Survey (latest available at the time of writing) and alternative methodologies. The analysis uses the 1997 education reform of increasing compulsory education by three years as an instrument. This results in a private rate of return on the order of 16% for higher education and a social return of 10%. Using the number of children younger than age 15 in the household as an exclusion restriction, sample selection correction is applied, and it shows that the returns to education for females are higher than those for males. Contrary to many findings in other countries, private returns to those working in the public sector are higher than those in the private sector, and private returns to those who followed the vocational track in secondary education are higher than those in the general academic track. The paper discusses the policy implications of the findings.

Suggested Citation

  • Harry Anthony Patrinos & George Psacharopoulos & Aysit Tansel, 2021. "Private and Social Returns to Investment in Education: the Case of Turkey with Alternative Methods," Applied Economics, Taylor & Francis Journals, vol. 53(14), pages 1638-1658, March.
    • Handle: RePEc:taf:applec:v:53:y:2021:i:14:p:1638-1658
    DOI: 10.1080/00036846.2020.1841086
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    Citations

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    Cited by:

    1. Chen, Jie & Pastore, Francesco, 2021. "Does Vocational Education Pay Better, or Worse, Than Academic Education?," IZA Discussion Papers 14445, Institute of Labor Economics (IZA).
    2. Montenegro, Claudio & Patrinos, Harry A., 2022. "Returns to Education in the Public and Private Sectors: Europe and Central Asia," IZA Discussion Papers 15516, Institute of Labor Economics (IZA).
    3. Jie Chen & Francesco Pastore, 2024. "Dynamics of returns to vocational education in China: 2010–2017," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-15, December.
    4. Gregory Clark & Christian Alexander Abildgaard Nielsen, 2024. "The Returns to Education: A Meta-study," Working Papers 0249, European Historical Economics Society (EHES).
    5. Adnan Bashir & Zahid Siddique, 2023. "Appraising the lifetime private economic returns of postgraduate degrees: Evidence from Pakistan," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-13, December.
    6. Zhao Li & Yujing Chu & Hang Fang, 2022. "Hierarchical Education Investment and Economic Growth in China," SAGE Open, , vol. 12(2), pages 21582440221, June.

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