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After, Before and During: Returns to Education in the Hungarian Transition

  • Nauro F. Campos

    ()

  • Dean Jolliffe

How valuable are the education and skills acquired under socialism in a market economy? This paper uses data for about 3 million Hungarian wage earners, from 1986 to 1998, to throw light on this question. We find that returns to schooling reach 10 percent early on and remain at this high level. These estimates are larger than for other transition economies, but similar to those for middle-income developing countries. With the gap in average years of schooling unremitting, we argue that the Hungarian stock of human capital is considerably less than the existing figures have led us to believe.

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File URL: http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp475.pdf
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Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number 475.

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Length: 35 pages
Date of creation: 01 Apr 2002
Date of revision:
Handle: RePEc:wdi:papers:2002-475
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  1. Colm Harmon & Hessel Oosterbeek & Ian Walker, 2000. "The returns to education : a review of evidence, issues and deficiencies in the literature," Open Access publications 10197/670, School of Economics, University College Dublin.
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