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Returns to Education in Azerbaijan : Some New Estimates

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  • Garcia Moreno,Vicente A.
  • Patrinos,Harry Anthony

Abstract

This paper estimates private and social returns to investment in education in Azerbaijan, using the 2015 Azerbaijan Monitoring Survey for Social Welfare. The private rate of return to education is 6 percent; this is the first estimate of returns to schooling in Azerbaijan since 1995. The returns to schooling are 6 percent for men and 8 percent for women, even controlling for selection. In addition, the paper estimates the returns for higher education; for this level, the rate of return is 9 percent. Finally, using the full discount method, the private rate of return to tertiary education is 9 percent, and the social rate of return is 8 percent. One policy implication is to re-examine the funding of higher education and for its expansion.

Suggested Citation

  • Garcia Moreno,Vicente A. & Patrinos,Harry Anthony, 2020. "Returns to Education in Azerbaijan : Some New Estimates," Policy Research Working Paper Series 9117, The World Bank.
    • Handle: RePEc:wbk:wbrwps:9117
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    References listed on IDEAS

    as
    1. Andrew Newell & Barry Reilly, 1999. "Rates of Return to Educational Qualifications in the Transitional Economies," Education Economics, Taylor & Francis Journals, vol. 7(1), pages 67-84.
    2. Montenegro, Claudio E. & Patrinos, Harry Anthony, 2014. "Comparable estimates of returns to schooling around the world," Policy Research Working Paper Series 7020, The World Bank.
    3. Manudeep Bhuller & Magne Mogstad & Kjell G. Salvanes, 2017. "Life-Cycle Earnings, Education Premiums, and Internal Rates of Return," Journal of Labor Economics, University of Chicago Press, vol. 35(4), pages 993-1030.
    4. George Psacharopoulos & Harry Anthony Patrinos, 2018. "Returns to investment in education: a decennial review of the global literature," Education Economics, Taylor & Francis Journals, vol. 26(5), pages 445-458, September.
    5. Peet, Evan D. & Fink, Günther & Fawzi, Wafaie, 2015. "Returns to education in developing countries: Evidence from the living standards and measurement study surveys," Economics of Education Review, Elsevier, vol. 49(C), pages 69-90.
    6. Harry Anthony Patrinos, 2016. "Estimating the return to schooling using the Mincer equation," IZA World of Labor, Institute of Labor Economics (IZA), pages 278-278, July.
    7. Pastore,Francesco & Sattar,Sarosh & Sinha,Nistha & Tiongson,Erwin H. R., 2016. "When do gender wage differences emerge ? a study of Azerbaijan's labor market," Policy Research Working Paper Series 7613, The World Bank.
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