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

Author

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  • Yeo Khee Yong

    (Ministry of Manpower, Singapore, NUS)

  • Toh Mun Heng
  • Shandre Mugan Thangavelu
  • James Wong

Abstract

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.

Suggested Citation

  • 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.
  • Handle: RePEc:eab:microe:21921
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    6. Hossain, Shaikh I., 1997. "Making education in China equitable and efficient," Policy Research Working Paper Series 1814, The World Bank.
    7. Geeta Gandhi Kingdon, 1998. "Does the labour market explain lower female schooling in India?," Journal of Development Studies, Taylor & Francis Journals, vol. 35(1), pages 39-65.
    8. 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.
    9. 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.
    10. 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.
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    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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    Cited by:

    1. Atiq-Ur-Rehman & Hafsa Anis & Saud Ahmed Khan, 2009. "Skill Shortage versus Subject Choice: Case of Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 48(4), pages 487-496.

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