IDEAS home Printed from https://ideas.repec.org/a/gde/journl/gde_v63_n3-4_p413-444.html
   My bibliography  Save this article

The Private and Social Return to Schooling in Italy

Author

Listed:
  • Antonio Ciccone

    (ICREA and Universitat Pompeu Fabra)

  • Federico Cingano

    (Bank of Italy, Research Department)

  • Piero Cipollone

    (Bank of Italy, Research Department)

Abstract

We estimate the private (individual) and social return to schooling in Italy and four macro-regions. Our estimates take into account the effects of schooling on employment and wages as well as the key features of the Italian tax and social insurance system. We find that the individual return to schooling compares favorably to the return to financial assets (especially in the South). At the social level, the available infrastructure capital data indicates that the return to schooling exceeds that to infrastructures in the South.

Suggested Citation

  • Antonio Ciccone & Federico Cingano & Piero Cipollone, 2004. "The Private and Social Return to Schooling in Italy," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 63(3-4), pages 413-444, December.
    • Handle: RePEc:gde:journl:gde_v63_n3-4_p413-444
    as

    Download full text from publisher

    File URL: ftp://ftp.gde.unibocconi.it/gde_articles/2004/GDE_V63_N3-4_P413-444.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Charles I. Jones, 2002. "Sources of U.S. Economic Growth in a World of Ideas," American Economic Review, American Economic Association, vol. 92(1), pages 220-239, March.
    2. Lucifora, Claudio & Comi, Simona Lorena & Brunello, Giorgio, 2000. "The Returns to Education in Italy: A New Look at the Evidence," IZA Discussion Papers 130, Institute of Labor Economics (IZA).
    3. Angel de la Fuente & Antonio Ciccone, 2003. "Human capital in a global and knowledge-based economy," UFAE and IAE Working Papers 562.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    4. Andrea Brandolini & Piero Cipollone & Paolo Sestito, 2001. "Earnings Dispersion, Low Pay and Household Poverty in Italy, 1977-1998," Temi di discussione (Economic working papers) 427, Bank of Italy, Economic Research and International Relations Area.
    5. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2004. "The Role of Social Capital in Financial Development," American Economic Review, American Economic Association, vol. 94(3), pages 526-556, June.
    6. Angel de la Fuente & Rafael Domenech & Juan Francisco Jimeno, 2003. "Human capital as a factor of growth and employment at the regional level. The case of Spain," UFAE and IAE Working Papers 610.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    7. Claudia Goldin & Lawrence F. Katz, 1998. "Human Capital and Social Capital: The Rise of Secondary Schooling in America, 1910 to 1940," NBER Working Papers 6439, National Bureau of Economic Research, Inc.
    8. Cohen, Daniel & Piketty, Thomas & Saint-Paul, Gilles (ed.), 2002. "The Economics of Rising Inequalities," OUP Catalogue, Oxford University Press, number 9780199254026.
    9. Angel de la Fuente, 2003. "Human Capital in a global and knowledge-based economy, part II: assessment at the EU country level," Working Papers 98, Barcelona School of Economics.
    10. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 31(3), pages 129-137.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Aiello, Francesco & Scoppa, Vincenzo, 2008. "Convergence and Regional Productivity Divide in Italy: Evidence from Panel Data," MPRA Paper 17343, University Library of Munich, Germany.
    2. Caroleo, Floro Ernesto & Pastore, Francesco, 2017. "Investing in Human Capital to Boost Growth!," IZA Policy Papers 135, Institute of Labor Economics (IZA).
    3. Michael Landesmann & Sebastian Leitner & Robert Stehrer & Terry Ward, 2009. "Skills and Industrial Competitiveness," wiiw Research Reports 356, The Vienna Institute for International Economic Studies, wiiw.
    4. Noe', Chiara, 2009. "Subject of degree and the gender wage gap: Evidence from Italy," MPRA Paper 47289, University Library of Munich, Germany.
    5. Vincenzo Scoppa, 2013. "Technological catch-up or neoclassical convergence? Identifying the channels of convergence for Italian regions," Economics and Business Letters, Oviedo University Press, vol. 2(4), pages 169-181.
    6. Marie-Noelle Duquenne & Maria Tsiapa & Valantis Tsiakos, 2019. "Contribution of the Common Agricultural Policy to agricultural productivity of EU regions during 2004–2012 period," Review of Agricultural, Food and Environmental Studies, Springer, vol. 100(1), pages 47-68, December.
    7. Caroleo, Floro Ernesto, 2012. "Il difficile passaggio verso il lavoro dei giovani che lasciano la scuola: quali possibili politiche? [The hard access to the labour market of youth leaving school: what policy choices?]," MPRA Paper 37645, University Library of Munich, Germany.
    8. Inés P. Murillo Huertas & Francisco Pedraja Chaparro, 2009. "¿Es rentable para el sector público invertir en educación?," Hacienda Pública Española / Review of Public Economics, IEF, vol. 188(1), pages 9-29, March.
    9. Floro Ernesto Caroleo & Francesco Pastore, 2019. "The Italian lowgrowth conundrum: An assessment and some policy lessons," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 20(01), pages 33-39, April.
    10. Mastromarco, C. (Camilla) & Peragine, V. (Vito) & Serlenga, L. (Laura), 2011. "GINI DP 69: Return to Education and Income Inequality in Europe and the US," GINI Discussion Papers 69, AIAS, Amsterdam Institute for Advanced Labour Studies.
    11. Marilena Furno, 2020. "Returns to Education and Gender Wage Gap Across Quantiles in Italy," Central European Journal of Economic Modelling and Econometrics, Central European Journal of Economic Modelling and Econometrics, vol. 12(2), pages 145-169, June.
    12. Concetta, MENDOLICCHIO, 2006. "A Disaggregate Analysis of Private Returns to Education in Italy," Discussion Papers (ECON - Département des Sciences Economiques) 2006054, Université catholique de Louvain, Département des Sciences Economiques.
    13. Vincenzo Scoppa, 2007. "Quality of Human and Physical Capital and Technological Gaps across Italian Regions," Regional Studies, Taylor & Francis Journals, vol. 41(5), pages 585-599.
    14. Bronzini, Raffaello & Piselli, Paolo, 2009. "Determinants of long-run regional productivity with geographical spillovers: The role of R&D, human capital and public infrastructure," Regional Science and Urban Economics, Elsevier, vol. 39(2), pages 187-199, March.
    15. Daniel Lederman & William F. Maloney, 2012. "Does What You Export Matter? In Search of Empirical Guidance for Industrial Policies," World Bank Publications - Books, The World Bank Group, number 9371.
    16. Ahmad Rizki Sridadi & Gigih Prihantono, 2018. "Gender Inequality in Wage Rate in Indonesia," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(3), pages 160-160, February.
    17. Stefania Gabriele & Fiorella Kostoris Padoa Schioppa, 2006. "Un’analisi economica della mobilità sociale in Italia," Rivista di Politica Economica, SIPI Spa, vol. 96(3), pages 47-111, May-June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Angel de la Fuente & Juan Francisco Jimeno, 2004. "The private and fiscal returns to schooling and the effect of public policies on private incentives to invest in education: a general framework and some results for the EU," Working Papers 152, Barcelona School of Economics.
    2. Strawinski, Pawel, 2008. "External Return to Education in Poland," MPRA Paper 11598, University Library of Munich, Germany.
    3. Strawinski, Pawel, 2007. "Changes In Return To Higher Education In Poland 1998-2004," MPRA Paper 5185, University Library of Munich, Germany.
    4. Concetta Mendolicchio & Thomas Rhein, 2014. "The gender gap of returns on education across West European countries," International Journal of Manpower, Emerald Group Publishing Limited, vol. 35(3), pages 219-249, May.
    5. Pina, Alvaro Manuel & St. Aubyn, Miguel, 2005. "Comparing macroeconomic returns on human and public capital: An empirical analysis of the Portuguese case (1960-2001)," Journal of Policy Modeling, Elsevier, vol. 27(5), pages 585-598, July.
    6. Strawinski, Pawel, 2008. "Changes in return to higher education in Poland 1998-2005," MPRA Paper 9533, University Library of Munich, Germany.
    7. Concetta, MENDOLICCHIO, 2005. "Gender and private returns to education : a cross-European analysis," Discussion Papers (ECON - Département des Sciences Economiques) 2005056, Université catholique de Louvain, Département des Sciences Economiques.
    8. STRAWINSKI Pawel, 2009. "External Return to Education in Europe," IRISS Working Paper Series 2009-09, IRISS at CEPS/INSTEAD.
    9. Andrea Montanino & Bartosz Przywara & David Young, 2004. "Investment in education: the implications for economic growth and public finances - Andrea Montanino, Bartosz Przywara and David Young," European Economy - Economic Papers 2008 - 2015 217, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    10. Manuel Hidalgo Pérez & Walter García-Fontes, 2009. "Estimating Human Capital Externalities:The Case of Spanish Regions," Working Papers 09.17, Universidad Pablo de Olavide, Department of Economics.
    11. Manuel Hidalgo-Pérez & Walter García-Fontes, 2014. "Estimating Human Capital Externalities: The Case of the Spanish Provinces, 1995-2010," Working Papers 14.06, Universidad Pablo de Olavide, Department of Economics.
    12. Paweł Strawiński, 2009. "Efekt zewnętrzny wykształcenia," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 39-60.
    13. Arturo Galindo & Alberto Chong & César Calderón, 2001. "Structure and Development of Financial Institutions and Links with Trust: Cross-Country Evidence," Research Department Publications 4251, Inter-American Development Bank, Research Department.
    14. Stacchini, Massimiliano & Degasperi, Petra, 2015. "Trust, family businesses and financial intermediation," Journal of Corporate Finance, Elsevier, vol. 33(C), pages 293-316.
    15. Mingfeng Lin & Nagpurnanand R. Prabhala & Siva Viswanathan, 2013. "Judging Borrowers by the Company They Keep: Friendship Networks and Information Asymmetry in Online Peer-to-Peer Lending," Management Science, INFORMS, vol. 59(1), pages 17-35, August.
    16. Mathushan P & Kengatharan N, 2022. "Human Resource Management Practices And Firm Innovation: Mediating Role Of Human Capital," Management Research and Practice, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 14(2), pages 25-36, June.
    17. Guiso, Luigi & Zingales, Luigi & Sapienza, Paola, 2010. "Civic Capital as the Missing Link," CEPR Discussion Papers 7757, C.E.P.R. Discussion Papers.
    18. Allen, Franklin & Demirguc-Kunt, Asli & Klapper, Leora & Martinez Peria, Maria Soledad, 2016. "The foundations of financial inclusion: Understanding ownership and use of formal accounts," Journal of Financial Intermediation, Elsevier, vol. 27(C), pages 1-30.
    19. Angel de la Fuente & Rafael Domenech & Juan Francisco Jimeno, 2003. "Human capital as a factor of growth and employment at the regional level. The case of Spain," UFAE and IAE Working Papers 610.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    20. Jonathan Skinner & Douglas Staiger, 2007. "Technology Adoption from Hybrid Corn to Beta-Blockers," NBER Chapters, in: Hard-to-Measure Goods and Services: Essays in Honor of Zvi Griliches, pages 545-570, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Education; Regional development; Wages; Employment probability;
    All these keywords.

    JEL classification:

    • I2 - Health, Education, and Welfare - - Education
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gde:journl:gde_v63_n3-4_p413-444. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Erika Somma (email available below). General contact details of provider: http://www.gde.unibocconi.it/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.