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Investment in Human Capital Through Post-Compulsory Education and Training: Selected Efficiency and Equity Aspects

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  • Sveinbjörn Blöndal
  • Simon Field
  • Nathalie Girouard

Abstract

This paper examines various efficiency and equity aspects related to the skill acquisition of young people and older adults. The analysis suggests that such human capital investment is associated with significant labour-market gains for individuals, including higher post-tax earnings and better employment prospects, which exceed the investment costs, mainly foregone earnings and tuition fees, by a significant margin. It also shows that the net benefits are strongly influenced by policy-related factors, such as study length, tuition subsidies and student support. Overall, the estimates reported in the paper indicate that there are strong incentives for the average student to continue studying beyond the compulsory schooling age, and also point to the benefits of such investment in education for society as a whole. However, the net gains fall with age, mainly reflecting a shorter period to take advantage of the benefits that come with education. Finally the paper notes that students ... Investissement en capital humain au travers de l'éducation et la formation post-obligatoires Le présent document porte sur divers aspects de l'équité et de l'efficience qui sont liés à l'acquisition de qualifications par les jeunes et les adultes relativement âgés. L'analyse donne à penser que ce type d'investissement dans le capital humain procure aux personnes d'importants avantages sur le marché du travail, notamment des gains, après impôt, plus élevés et de meilleures perspectives d'emploi, avantages qui compensent largement le coût des investissements, c'est à dire, principalement, le manque à gagner et les frais d'études. Il ressort également de cette analyse que les avantages nets varient considérablement sous l'effet de facteurs liés à l'action des pouvoirs publics, tels que la durée de la scolarisation, les allocations d'études, et le soutien apporté aux élèves. Globalement, les estimations indiquées dans le rapport montrent que l'élève moyen serait fortement incité à poursuivre ses études audelà de l'âge de l'obligation scolaire et elles mettent également en ...

Suggested Citation

  • Sveinbjörn Blöndal & Simon Field & Nathalie Girouard, 2002. "Investment in Human Capital Through Post-Compulsory Education and Training: Selected Efficiency and Equity Aspects," OECD Economics Department Working Papers 333, OECD Publishing.
  • Handle: RePEc:oec:ecoaaa:333-en
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    File URL: http://dx.doi.org/10.1787/778845424272
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    Keywords

    capital humain; chômage; earnings; gains; human capital; impôt; soutien aux élèves; student support; taxes; unemployment; équité;

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy

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