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Rates of Return to Education in Singapore

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  • Mun Heng Toh
  • Chai Shing Wong

Abstract

In this paper, the rates of return to education in Singapore are computed by the cost- benefit approach covering the period 1980-1994. The results indicate that the rates of return to education increase with the level of education. Although remaining higher than the rates of return to secondary education, the rates of return for tertiary education are found to be declining during the period of investigation. Social as well as private rates of return for professional university-level courses such as accountancy, law and engineering are also enumerated. The rates for tertiary education are, in general, well above the prevailing prime lending rates. This has provided justification for the government to facilitate a study loan scheme for tertiary students so as to shift part of the burden for financing tertiary education to private individuals (students) who enjoy direct benefits.

Suggested Citation

  • Mun Heng Toh & Chai Shing Wong, 1999. "Rates of Return to Education in Singapore," Education Economics, Taylor & Francis Journals, vol. 7(3), pages 235-252.
    • Handle: RePEc:taf:edecon:v:7:y:1999:i:3:p:235-252
    DOI: 10.1080/09645299900000020
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    Cited by:

    1. Ken Yamada & Daiji Kawaguchi, 2015. "The changing and unchanged nature of inequality and seniority in Japan," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 13(1), pages 129-153, March.
    2. Fatma El-Hamidi, 2004. "General or Vocational? Evidence on School Choice, Returns, and “Sheep Skin” Effects from Egypt 1998," Working Papers 0406, Economic Research Forum, revised 01 Aug 2004.
    3. Yeo Khee Yong & Toh Mun Heng & Shandre Mugan Thangavelu & James Wong, 2007. "Premium on Fields of Study: The Returns to Higher Education in Singapore," SCAPE Policy Research Working Paper Series 0703, National University of Singapore, Department of Economics, SCAPE.
    4. Yeo Khee Yong & Toh Mun Heng & Shandre Mugan Thangavelu & James Wong, 2007. "Premium on Fields of Study : The Returns to Higher Education in Singapore," Microeconomics Working Papers 21921, East Asian Bureau of Economic Research.
    5. Ken Yamada & Daiji Kawaguchi, 2012. "Changing Unchanged Inequality: Higher Education, Youth Population, and the Japan's Seniority Wages," Global COE Hi-Stat Discussion Paper Series gd12-243, Institute of Economic Research, Hitotsubashi University.

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