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Returns to Investment in Education: The Case of Turkey

Author

Listed:
  • Harry Anthony Patrinos

    (The World Bank)

  • George Psacharopoulos

    (Georgetown University)

  • Aysit Tansel

    () (Middle East Technical University (METU); IZA Institute of Labor Economics; Economic Research Forum (ERF))

Abstract

This paper estimates private and social returns to investment in education in Turkey, using the 2017 Household Labor Force Survey 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 percent for higher education and a social return of 10 percent. Using the number of children younger than age 15 in the household as an exclusion restriction, the analysis finds that 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, 2019. "Returns to Investment in Education: The Case of Turkey," Koç University-TUSIAD Economic Research Forum Working Papers 1906, Koc University-TUSIAD Economic Research Forum.
  • Handle: RePEc:koc:wpaper:1906
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    File URL: http://eaf.ku.edu.tr/sites/eaf.ku.edu.tr/files/erf_wp_1906.pdf
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    More about this item

    Keywords

    Education; Returns to Education; Turkey.;

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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