haku: @author Lang, K. / yhteensä: 6
viite: 4 / 6
| Tekijä: | Lang, K. |
| Otsikko: | Does the human-capital/educational-sorting debate matter for development policy? |
| Lehti: | American Economic Review
1994 : MAR, VOL. 84:1, p. 353-358 |
| Asiasana: | DEVELOPMENT POLICY HUMAN CAPITAL |
| Kieli: | eng |
| Tiivistelmä: | The effect of education on productivity is essential to any discussion of the role of education in development. Since in equilibrium wages are equal to the (expected) value of labor's marginal product, a natural way to measure the effect of education on productivity is by its effects on wages. In a log-wage equation, the coefficient on schooling is typically on the order of 8 percent in the U.S. and is generally higher in developing countries, suggesting that education has a significant impact on productivity. |
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