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Premium on Fields of Study : The Returns to Higher Education in Singapore

  • Yeo Khee Yong

    (Ministry of Manpower, Singapore, NUS)

  • Toh Mun Heng
  • Shandre Mugan Thangavelu
  • James Wong
Registered author(s):

    In summary, the returns to investment in education in Singapore tend to increase with years of schooling, with the returns to tertiary education generally higher than those for non-tertiary education. This is similar to the findings for other Asian newly industrialised economies like South Korea and Hong Kong. As the structure of Singapores economy shifts towards higher value-added and knowledge activities, there will continue to be an increase in the demand for skilled and educated human capital. We can thus expect the demand for workers with tertiary education to increase, which implies that the rate of returns to tertiary education is likely to remain high and above those for secondary and below education. Education will hence continue to be an attractive investment for individuals.

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    Paper provided by East Asian Bureau of Economic Research in its series Microeconomics Working Papers with number 21921.

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    Date of creation: Jan 2007
    Date of revision:
    Handle: RePEc:eab:microe:21921
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    1. Pedro Martins & Jim Jin, 2010. "Firm-level social returns to education," Journal of Population Economics, Springer, vol. 23(2), pages 539-558, March.
    2. Concetta, MENDOLICCHIO, 2005. "Gender and private returns to education : a cross-European analysis," Discussion Papers (ECON - Département des Sciences Economiques) 2005056, Université catholique de Louvain, Département des Sciences Economiques.
    3. 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.
    4. Hossain, Shaikh I., 1997. "Making education in China equitable and efficient," Policy Research Working Paper Series 1814, The World Bank.
    5. Tansel, Aysit, 1994. "Wage employment, earnings and returns to schooling for men and women in Turkey," Economics of Education Review, Elsevier, vol. 13(4), pages 305-320.
    6. Mun Heng Toh & Chai Shing Wong, 1999. "Rates of Return to Education in Singapore," Education Economics, Taylor & Francis Journals, vol. 7(3), pages 235-252.
    7. Geeta Gandhi Kingdon, 1997. "Does the labour market explain lower female schooling in India?," LSE Research Online Documents on Economics 6715, London School of Economics and Political Science, LSE Library.
    8. Ryoo, Jai-Kyung & Nam, Young-Sook & Carnoy, Martin, 1993. "Changing rates of return to education over time: A Korean case study," Economics of Education Review, Elsevier, vol. 12(1), pages 71-80, March.
    9. Carmen Garcia Prieto & Angel Martin Roman & Carlos Perez Dominguez, 2005. "Actual and Potential Returns to Schooling in Spain," Education Economics, Taylor & Francis Journals, vol. 13(4), pages 387-407.
    10. Elchanan Cohn & John Addison, 1998. "The Economic Returns to Lifelong Learning in OECD Countries," Education Economics, Taylor & Francis Journals, vol. 6(3), pages 253-307.
    11. Bartel, Ann P & Lichtenberg, Frank R, 1987. "The Comparative Advantage of Educated Workers in Implementing New Technology," The Review of Economics and Statistics, MIT Press, vol. 69(1), pages 1-11, February.
    12. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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