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Private and Public Returns to Investments in Secondary and Higher Education in New Zealand Over Time: 1981-1996

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  • Sholeh Maani

Abstract

With significant increases in the demand for new skills and participation in higher education in New Zealand since the 1980s, and the introduction of economic reforms toward market liberalisation since the mid 1980s, an examination of income returns to investments in higher education has been of significant interest. This study utilises micro level data from the New Zealand Census for the years 1996, 1991, 1986 and 1981 to examine the market returns to post-compulsory secondary and tertiary education for males and females. Internal rate of return estimations of private and public returns to education, and econometric modelling with formal stability tests of changes in returns over time are employed to examine the magnitude and changes in returns to higher education over the fifteen year period. The period of the study is of interest, spanning the period before and after the introduction of the first set of reforms in 1984, and labour market reforms in 1991. The results show strong support for an increase in the returns to tertiary education in the 1981-1991 period, and a stabilisation of results for males and a relative decline in the returns for females since 1991.

Suggested Citation

  • Sholeh Maani, 1999. "Private and Public Returns to Investments in Secondary and Higher Education in New Zealand Over Time: 1981-1996," Treasury Working Paper Series 99/02, New Zealand Treasury.
    • Handle: RePEc:nzt:nztwps:99/02
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    File URL: https://treasury.govt.nz/sites/default/files/2007-10/twp99-02.pdf
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    1. Moulton, Brent R., 1986. "Random group effects and the precision of regression estimates," Journal of Econometrics, Elsevier, vol. 32(3), pages 385-397, August.
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    Cited by:

    1. Trinh Le & John Gibson & Les Oxley, 2003. "Cost‐ and Income‐based Measures of Human Capital," Journal of Economic Surveys, Wiley Blackwell, vol. 17(3), pages 271-307, July.
    2. Lisa Meehan & Gail Pacheco & Zoe Pushon, 2017. "Explaining ethnic disparities in bachelor's qualifications: Participation, retention and completion in NZ," Working Papers 2017/01, New Zealand Productivity Commission.
    3. Kerry Papps, 2010. "Earnings inequality and gender in New Zealand, 1998-2008," New Zealand Economic Papers, Taylor & Francis Journals, vol. 44(3), pages 217-229.
    4. Dean Hyslop & Dave Maré, 2009. "Skill Upgrading in New Zealand, 1986–2001," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 42(4), pages 422-434, December.
    5. Lisa Meehan & Gail Pacheco & Zoe Pushon, 2017. "Explaining ethnic disparities in bachelor’s degree participation: Evidence from NZ," Working Papers 2017-03, Auckland University of Technology, Department of Economics.
    6. The Treasury, 2001. "Human Capital and the Inclusive Economy," Treasury Working Paper Series 01/16, New Zealand Treasury.
    7. Joseph Mercante & Penny Mok, 2014. "Estimation of wage equations for New Zealand," Treasury Working Paper Series 14/09, New Zealand Treasury.
    8. Gail Pacheco & Jessica Dye, 2013. "Estimating the Cost of Youth Disengagement in New Zealand," Working Papers 2013-04, Auckland University of Technology, Department of Economics.

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