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Education and public policy

Author

Listed:
  • Jayasri Dutta
  • James Sefton
  • Martin Weale

Abstract

This article surveys the literature on education as a matter of public policy. We present international comparisons of expenditure on education and then discuss the contribution of education to economic growth, distinguishing between growth accounting and regression approaches, but concluding that the picture is still confused. We assess the risky nature of investment in higher education and also discuss the link between educational experience and social class. We show that this, when studied in aggregate, accounts for less than half of the persistence of earnings between fathers and sons but it nevertheless does a good job of relating father’ and sons’ occupations. Finally, we look at the link between education and earnings in the UK. For most subjects, the private return to university education has held at over 15 per cent p.a. despite the introduction of fees. However, some subjects offer a negative return.

Suggested Citation

  • Jayasri Dutta & James Sefton & Martin Weale, 1999. "Education and public policy," Fiscal Studies, Institute for Fiscal Studies, vol. 20(4), pages 351-386, December.
    • Handle: RePEc:ifs:fistud:v:20:y:1999:i:4:p:351-386
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    References listed on IDEAS

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    Cited by:

    1. repec:zna:indecs:v:19:y:2021:i:4:p:189-209 is not listed on IDEAS
    2. David Greenaway & Michelle Haynes, 2003. "Funding Higher Education in The UK: The Role of Fees and Loans," Economic Journal, Royal Economic Society, vol. 113(485), pages 150-166, February.
    3. Deininger, Klaus, 2003. "Does cost of schooling affect enrollment by the poor? Universal primary education in Uganda," Economics of Education Review, Elsevier, vol. 22(3), pages 291-305, June.
    4. Avdullah Hoti, 2017. "Participation, Discouraged Workers and Job Search: Evidence for Kosova," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 3(3), pages 239-262, July.
    5. Ana I. Moro Egido & Maria Navarro, 2023. "Intergenerational Transmission of Economic Strain and High School Dropout," ThE Papers 23/07, Department of Economic Theory and Economic History of the University of Granada..
    6. Cormac O'Dea & Ian Preston, 2012. "The distributional impact of public spending in the UK," IFS Working Papers W12/06, Institute for Fiscal Studies.

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    More about this item

    JEL classification:

    • I20 - Health, Education, and Welfare - - Education - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials

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