After, before and during: returns to education in Hungary (1986–1998) |
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| Authors: | Nauro F Campos Dean Jolliffe |
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| Institution: | a University of Newcastle upon Tyne, Newcastle upon Tyne, NE1 7RU, UK;b William Davidson Institute, University of Michigan, Ann Arbor, MI, USA;c CEPR, London, UK;d Georgetown Public Policy Institute, Washington, DC, USA |
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| Abstract: | How valuable are the skills acquired under socialism in a market economy? This paper throws light on this question using unique data covering the years before and during transition (1986–1998) for about 3 million Hungarian wage earners. We find that returns to a year of schooling increased by 75% from 6.4% in 1986 to 11.2% in 1998. We also find that the private sector rewards formal education more than the public and, in terms of gender, although in 1986 women had greater returns to schooling than men, by 1998 this difference had been eliminated. |
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| Keywords: | Author Keywords: Human capital Transition economies Hungary |
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