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The Social Rates of Return of R&D, Scientists, Engineers and Tertiary Education System Investments: International Evidence

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  • Dias, Jolison

    (Universidad Stadual de Maringá, Brazil)

  • Ambrosio Dias, María Helena

    (Universidad Stadual de Maringá, Brazil)

Abstract

The objetive of this paper is to estimate the social rates of returns to tertiary education investment and its output- R&D and scientist and engineers- in the economy. In measuring this social impact, we account for the endogeneity problems using instrumental variables. Our Instruments are the one suggested by Hall and Jones (1999). Our econometric results show that the investments in R&D, scientist and engineers and tertiary education for 70 countries are well above the private one, which may justify targeted policies.

Suggested Citation

  • Dias, Jolison & Ambrosio Dias, María Helena, 2006. "The Social Rates of Return of R&D, Scientists, Engineers and Tertiary Education System Investments: International Evidence," Revista Latinoamericana de Desarrollo Economico, Carrera de Economía de la Universidad Católica Boliviana (UCB) "San Pablo", issue 7, pages 9-28, Octubre.
    • Handle: RePEc:ris:revlde:0701
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    More about this item

    Keywords

    Social; Rates; Engineers; Education; Sistems;
    All these keywords.

    JEL classification:

    • Z00 - Other Special Topics - - General - - - General

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