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Schooling and National Income: How Large Are the Externalities?
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Breton, Theodore R. – Education Economics, 2010
This paper uses a new data-set for cumulative national investment in formal schooling and a new instrument for schooling to estimate the national return on investment in 61 countries. These estimates are combined with data on the private rate of return on investment in schooling to estimate the external rate of return. In 1990 the external rate of…
Descriptors: Income, Educational Benefits, Outcomes of Education, Educational Assessment