Returns to education Educational finance Family background Earnings
Statistical and Social Inquiry Society of Ireland
Harmon, Colm. 'Barrington lecture 2001/2002: schooling returns, schooling decisions and educational finance'. - Dublin: Journal of the Statistical and Social Inquiry Society of Ireland,Vol. XXXI, 2001/2002, pp212-246
Journal of the Statistical and Social Inquiry Society of Ireland Vol. XXXI 2001/2002
Given the presence of significant returns to education, it would seem
logical to query why individuals choose to leave school early. This paper examines
the evidence on this issue, dealing with both methodological and evidence-based
findings. Drawing on existing research in the area of schooling returns, the evidence
and deficiencies of the literature are explored in an effort to quantify the scale of the
private return to education. The schooling decision is subsequently examined more
closely, so as to investigate the effect of variables such as family income on that
choice. Proposed educational finance solutions are then surveyed. Specifically, this
paper reports on an experimental approach in the UK, which pays allowances to
households and individual students for participation in education, thus reducing the
opportunity cost of staying on at school. Finally, estimates are presented, based on
an analysis of non-experimental UK data, of the probability of early school leaving,
conditional on named variables.
Read before the Society, 16 May 2002.
This lecture is delivered under the auspices of the Barrington Trust (founded by
the bequest of John Barrington, Esq.) with the collaboration of the Journal of the
Statistical and Social Inquiry Society of Ireland.
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