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Rates of Return to Investments in Formal and Technical/Vocational Education in Singapore

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  • Chris Sakellariou

Abstract

There is an absence of empirical evidence on returns to education in Singapore for nearly 30 years, mainly because of lack of publicly available data. The present study attempts to fill this gap by exploring the relationship between education and earnings in Singapore and to link the results of the study to research evidence from 30 years ago, as well as relate the results to those in the international literature. Recent Labor Force Survey data are used to obtain evidence and update older estimates of the private returns to investment in formal and technical/vocational education from different levels and types of schooling in Singapore. Some of the results confirm earlier patterns from other country studies, while other results make Singapore a world outlier, with very high private returns to schooling (comparable with estimates from lower-middle income countries) in relation to Singapore's advanced stage of development and per-capita income.

Suggested Citation

  • Chris Sakellariou, 2003. "Rates of Return to Investments in Formal and Technical/Vocational Education in Singapore," Education Economics, Taylor & Francis Journals, vol. 11(1), pages 73-87.
    • Handle: RePEc:taf:edecon:v:11:y:2003:i:1:p:73-87
    DOI: 10.1080/09645290210127525
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    Cited by:

    1. Yubilianto, 2020. "Return to education and financial value of investment in higher education in Indonesia," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 9(1), pages 1-28, December.
    2. Chris N. Sakellariou & Harry A. Patrinos, 2004. "Technology, computers and wages: evidence from a developing economy," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 47(3-4), pages 543-543.
    3. Celeste K. Carruthers & Christopher Jepsen, 2020. "Vocational Education: An International Perspective," CESifo Working Paper Series 8718, CESifo.
    4. Yeo Khee Yong & Toh Mun Heng & Shandre Mugan Thangavelu & James Wong, 2007. "Premium on Fields of Study: The Returns to Higher Education in Singapore," SCAPE Policy Research Working Paper Series 0703, National University of Singapore, Department of Economics, SCAPE.
    5. Anchor, John R. & Fiserová, Jana & Mars[iota]ková, Katerina & Urbánek, Václav, 2011. "Student expectations of the financial returns to higher education in the Czech Republic and England: Evidence from business schools," Economics of Education Review, Elsevier, vol. 30(4), pages 673-681, August.
    6. Chris Sakellariou, 2005. "Profitability of Vocational vs. Formal Education for Men and Women in Singapore Using Quantile Regressions," Economic Growth Centre Working Paper Series 0502, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
    7. Mona Said & Fatma El-Hamidi, 2008. "Taking Technical Education Seriously in MENA: Determinants, Labor Market Implications and Policy Lessons," Working Papers 450, Economic Research Forum, revised 09 Jan 2008.
    8. Bairagya, Indrajit, 2021. "Impact of formal vocational training on the earnings of self-employed individuals in rural India," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    9. Hatidza Jahic & Amila Pilav-Velic, 2021. "Measuring returns on investment in education: lessons for sustainable and innovative education policy," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 19(2), pages 189-209.
    10. Kadir, Kadir & Weni Lidya, Sukma, 2019. "Returns to Education and Wages Distribution in Indonesia: A Comparison across Gender Groups," MPRA Paper 94929, University Library of Munich, Germany, revised 25 Apr 2019.
    11. Yeo Khee Yong & Toh Mun Heng & Shandre Mugan Thangavelu & James Wong, 2007. "Premium on Fields of Study : The Returns to Higher Education in Singapore," Microeconomics Working Papers 21921, East Asian Bureau of Economic Research.
    12. Pavla Rehorova, 2010. "Education And Gender Equity: Evidence From The Czech Republic And Uk," Business Education and Accreditation, The Institute for Business and Finance Research, vol. 2(1), pages 105-119.
    13. Oosterbeek, Hessel & Ponce, Juan, 2011. "The impact of computer use on earnings in a developing country: Evidence from Ecuador," Labour Economics, Elsevier, vol. 18(4), pages 434-440, August.

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