|
on Education |
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Issue of 2013‒04‒20
27 papers chosen by Joao Carlos Correia Leitao University of Beira Interior and Technical University of Lisbon |
| By: | Parinduri, Rasyad |
| Abstract: | This paper examines the effects of a longer school year in Indonesia on grade repetition, educational attainment, employability, and earnings. I exploit an arbitrary rule that assigned students to a longer school year in Indonesia in 1978-1979, which fits a fuzzy regression discontinuity design. I find the longer school year decreases the probability of grade repetition and increases educational attainment. It also increases the probability of working in formal sectors and wages later in life. Moreover, there is some evidence that some effects of the longer school year are larger for females and for individuals who grew up in rural areas. |
| Keywords: | school term length, grade repetition, educational attainment, returns to schooling, regression discontinuity design, Asia, Indonesia |
| JEL: | I21 J24 J31 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46158&r=edu |
| By: | Raul Ramos (Faculty of Economics, University of Barcelona); Juan Carlos Duque (RiSE-group, Department of Economics, EAFIT University); Sandra Nieto (Faculty of Economics, University of Barcelona) |
| Abstract: | Despite the large number of studies that draw on Programme for International Student Assessment (PISA) microdata in their analyses of the determinants of educational outcomes, no more than a few consider the relevance of geographical location. In going some way to rectify this, our paper examines the differences in educational outcomes between students attending schools in rural areas and those enrolled in urban schools. We use microdata from the 2006 and 2009 PISA survey waves for Colombia. The Colombian case is particularly interesting in this regard due to the structural changes suffered by the country in recent years, both in terms of its political stability and of the educational reform measures introduced. Our descriptive analysis of the data shows that the educational outcomes of rural students are worse than those of urban students. In order to identify the factors underpinning this differential, we use the Oaxaca-Blinder decomposition and then exploit the time variation in the data using the methodology proposed by Juhn-Murphy-Pierce. Our results show that most of the differential is attributable to family characteristics as opposed to those of the school. From a policy perspective, our evidence supports actions addressed at improving conditions in the family rather than measures of positive discrimination of rural schools. |
| Keywords: | educational outcomes, rural-urban differences, decomposition methods. JEL classification: J24, I25, R58 |
| Date: | 2012–12 |
| URL: | http://d.repec.org/n?u=RePEc:aqr:wpaper:201210&r=edu |
| By: | Holzer, Harry J. (Georgetown University); Dunlop, Erin (American Institutes for Research) |
| Abstract: | In this paper, we provide a comprehensive and up-to-date snapshot of the most important postsecondary education and labor market outcomes in the U.S. using two nationally representative sources of data: The Survey of Income and Program Participation (SIPP) and The National Educational Longitudinal Survey (NELS). We find that postsecondary educational attainment has risen modestly among young Americans over the past two decades, with greater gains in BA attainment in the 1990s and in certificate and AA attainment since 2000 (though attainment rose during the Great Recession at all levels). Both younger and older cohorts of blacks and Hispanics have made relative progress in the attainment of certificates and AAs but still lag behind whites in the entry into and completion of BA programs; completion rates in BA programs also lag substantially for those from low-income families or with weak academic achievement in high school. Young women (especially among whites and blacks) now achieve sub-BA and BA degrees at higher levels than their male counterparts and generally have higher achievement. There are labor market returns for all postsecondary credentials, including certificates and AA degrees, though these vary across field of study. Large gender gaps exist in field of study, with men more concentrated in high-paying fields. Lastly, we find that high school achievement measures can account for much of the racial gaps in BA completion and earnings and some of the gaps by family background, though they account for little of the continuing gender gap favoring young men in earnings. |
| Keywords: | postsecondary education, earnings, labor market |
| JEL: | I23 I24 J24 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7319&r=edu |
| By: | Brück, Tilman (SIPRI); Esenaliev, Damir (DIW Berlin) |
| Abstract: | We investigate long-term trends in the intergenerational transmission of education in a low income country undergoing a transition from socialism to a market economy. We draw on evidence from Kyrgyzstan using data from three household surveys collected in 1993, 1998 and 2011. We find that Kyrgyzstan, like Eastern European middle income transition economies, generally maintained high educational mobility, comparable to the levels during Soviet times. However, we find that the younger cohorts, who were exposed to the transition during their school years, experienced a rapid decline in educational mobility. We also document that gender differences in schooling and educational mobility, found among older-aged individuals, disappeared in the younger population. |
| Keywords: | gender, educational attainment, intergenerational mobility, transition economy, Kyrgyzstan, Central Asia |
| JEL: | J62 P36 I25 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7318&r=edu |
| By: | Audrey S. Paterson; William J. Jackson; Andrew P. Grieve |
| Abstract: | The traditional view of university teaching is one in which it is the lecturer’s job to profess to students and the student’s job is to learn. However, as a result of the agenda for widening participation in Higher Education, Universities now have to cater to students from a diverse range of backgrounds and abilities. In terms of employment there is growing pressure within accounting courses to align the outcomes of university education with useful generic skills and competencies that are transferable to employment situations. Organisations are complaining that students employed in entry-level accounting positions lack the required critical thinking and creativity skills to work effectively. The rapid expansion of accessible information and knowledge has also required closer attention to understanding how students learn and manage information. Thus, a recurring dilemma for lecturers within accounting education concerns the development of generic competencies and the transfer of information and whether to present ideas and information in a teacher-centred expository manner i.e. through a lecture. Or, alternatively lecturers could encourage and utilise a student-centred learning and teaching experience which provides opportunities to determine, direct and monitor the course of learning. Teaching and learning research indicates that integrating students into the teaching process is one way to make learning more student-centred, resulting in improvements in quality, productivity, student achievement, self-esteem, student retention and attitudes to course content. In this paper we will outline how, in accounting education, the adoption of a more-student-centred learning approach, has resulted in deeperlearning, encourages critical thinking and creativity, has fostered a sense of collaboration and co-operation within faculty, and reflects on the methods utilised in accounting education and identifies opportunities for further development. |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:hwe:hwuadp:1201&r=edu |
| By: | Jirada Prasartpornsirichoke (Graduate School for International Development and Cooperation, Hiroshima University); Yoshi Takahashi (Graduate School for International Development and Cooperation, Hiroshima University) |
| Abstract: | Using data from Thailand's Household Socioeconomic Survey, this paper measures the inequalities of Thai education in 2011. We utilize the Gini coefficients to estimate Thai educational inequalities from cumulative years of educational attainment which are between zero (no schooling) to twenty-one (doctoral level) years. The education Gini coefficient of the whole country is 0.349. At the provincial level, the Gini coefficients are in a range between 0.272 (Nonthaburi) and 0.521 (Mae hong son). The provinces located near the Bangkok metropolis have greater equality in education, except for Samut Sakhon, while the provinces in the northern part of Thailand have severe inequality in education, especially the border provinces. As for the effect of schooling on educational inequality, we found that at the regional level, average years of schooling was significantly and negatively associated with the educational inequality, except in the northern part of Thailand. The magnitudes of coefficients of average years of schooling in the northern and southern parts are twice that of the central part of Thailand. The policy implication of this paper is that the Thai government should pay attention to two points in adjusting the scope of distribution: reduce the number of people without schooling and extend the educational attainment of people with primary education to secondary education. At the regional level, the policy of education expansion for reducing educational inequality is workable only in central Thailand, the north, and the south. Governments should utilize different policies in each region. In addition, the Thai government should pay more attention to solving the social problems which contribute to the issue of educational inequality. |
| Keywords: | Inequality in education, the Gini coefficient, Years of schooling, Thai education |
| JEL: | I24 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:hir:idecdp:3-2&r=edu |
| By: | Benos, Nikos; Zotou, Stefania |
| Abstract: | This paper surveys the literature that examines the effect of education on economic growth. Specifically, we apply meta-regression analysis to 56 studies with 979 estimates and show that there is substantial publication selection bias towards a positive impact of education on growth. Once we account for this, we find evidence of a genuine effect of education on economic growth. The variation in reported estimates can be attributed to differences in the measurement of education and study characteristics, most importantly model specification, estimation methodology, type of data and the research outlet where studies were published, e.g. academic journals vs. working papers. |
| Keywords: | Education, human capital, economic growth, meta-regression analysis, world sample |
| JEL: | C01 E24 I25 O50 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46143&r=edu |
| By: | Naci Mocan (Louisiana State University, Department of Economics, National Bureau of Economic Research (NBER), and Institute for the Study of Labor (IZA)); Duha T. Altindag (Auburn University, Department of Economics) |
| Abstract: | Using data from NLSY97 we analyze the impact of education on health behavior. Controlling for health knowledge does not influence the impact of education on health behavior, supporting the productive efficiency hypothesis. Accounting for cognitive ability does not significantly alter the relationship between education and health behavior. Similarly, the impact of education on health behavior is the same between those with and without a learning disability, suggesting that cognition is not likely to be a significant factor in explaining the impact of education on health behavior. |
| Keywords: | Health inputs; Cognition; Learning; Productive efficiency. |
| JEL: | I12 I20 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:koc:wpaper:1310&r=edu |
| By: | Fang Yang (SUNY-Albany); John Jones (University at Albany, SUNY) |
| Abstract: | We document trends in higher education costs and tuition over the past 50 years. To explain these trends, we develop and simulate a general equilibrium model with unbalanced technical change. We assume that higher education suffers from Baumol's (1967) service sector disease, in that the quantity of labor and capital needed to educate a student is constant over time. Calibrating the model, we show that it can explain the rise in college costs between 1959 and 2000. We then use the model to perform a number of numerical experiments. We find, consistent with a number of studies, that changes in the tuition discount rate have little long-run effect on college attainment. |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:red:sed012:597&r=edu |
| By: | Schwerdt, Guido (Ifo Institute for Economic Research); West, Martin R. (Harvard Graduate School of Education) |
| Abstract: | A growing number of American states require that students who do not demonstrate basic reading proficiency at the end of third grade be retained and provided with remedial services. We exploit a discontinuity in the probability of third grade retention under Florida's test-based promotion policy to study the causal effect of retention on student outcomes over time. Although conventional OLS estimates suggest negative effects of retention on achievement, regression discontinuity estimates indicate large positive effects on achievement and a reduced probability of retention in subsequent years. The achievement gains from test-based retention fade out over time, however, and are statistically insignificant after six years. |
| Keywords: | educational production, public schools, grade retention |
| JEL: | H52 I21 I28 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7314&r=edu |
| By: | Pauline Musset |
| Abstract: | This report discusses the most relevant issues concerning school choice schemes, and how they intertwine with equity considerations, through a literature review and analysis of the effects different types of school choice programmes have on equity. In the last 25 years, more than two-thirds of OECD countries have increased school choice opportunities for parents. The empirical evidence reviewed here reveals that providing full parental school choice results in further student segregation between schools, by ability, socio-economic and ethnic background, and in greater inequities across education systems. The report identifies certain characteristics of programmes that can prevent schools from hand-picking their students - crowding out disadvantaged and low performing students. As school choice is here to stay, countries should explore choice designs that balance parents’ freedom to choose with equity considerations: this report develops two particular schemes: controlled choice programmes – also called flexible enrolment schemes – and weighted funding formula.<BR>Ce rapport aborde les aspects les plus pertinents concernant les systèmes de choix de l'école, et leurs relations avec les questions d’équité, à travers une revue de la littérature et un examen des effets de différents types de mécanismes de choix. Au cours des 25 dernières années, plus des deux tiers des pays de l'OCDE ont augmenté les possibilités de choix de l'école pour les parents. L’évidence empirique examinée ici révèle que de permettre aux parents de choisir entre toutes les écoles contribuent à séparer les élèves par aptitudes, milieux socio-économiques, et origines ethniques, et donc accroit les iniquités entre les écoles. Le rapport identifie certaines caractéristiques des programmes qui peuvent empêcher les écoles « d’écrémer » les élèves, et donc d’exclure ceux qui sont les plus défavorisés, ou les moins bons. Les pays peuvent développer des mécanismes qui permettre de concilier la liberté pour les parents de choisir l’école de leurs enfants et l’équité. Ce rapport analyse deux dispositifs particuliers: les programmes de choix contrôlé - également appelés les régimes d'inscription flexibles - et le financement pondéré des écoles. |
| Date: | 2012–01–31 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaab:66-en&r=edu |
| By: | Brenton Faubert |
| Abstract: | This working paper was prepared as part of the OECD thematic review Overcoming School Failure: Policies that Work, www.oecd.org/edu/equity. The project provides evidence on the policies that are effective to reduce school failure by improving low attainment and reducing dropout, and proactively supports countries in promoting reform. The project builds on the conceptual framework developed in the OECD’s No More Failures: Ten Steps to Equity in Education (2007). Austria, Canada (Manitoba, Ontario, Québec and Yukon), Czech Republic, France, Greece, Ireland, Netherlands, Spain and Sweden took part in this project. This working paper is part of a series of papers prepared for the thematic review Overcoming School Failure: Policies that Work covering the topics of policies to reduce dropout and in-school practices to reduce school failure. These report have been used as background material for the final comparative report Equity and Quality in Education: Supporting Disadvantaged Schools and Students (OECD, 2012), which gives evidence on the policy levers that can help overcome school failure and reduce inequities in OECD education systems. It focuses on the reasons why investing in overcoming school failure -early and up to upper secondary- pays off, on alternatives to specific system level policies that are currently hindering equity, and on the actions to be taken at school level, in particular in low performing disadvantaged schools. |
| Date: | 2012–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaab:68-en&r=edu |
| By: | Prakarsh Singh (Amherst College); Olga N. Shemyakina (School of Economics, Georgia Institute of Technology) |
| Abstract: | This study explores the long-run effect of the 1981-1993 Punjab Insurgency on the educational attainment of adults who were between ages 6-16 years at the time of the insurgency, using the 2005 India Human Development Survey. We find a substantial and statistically significant negative effect of terrorism on educational attainment. To explore the channels through which the conflict affected education, we use a unique historical dataset on the annual expenditure decisions by farmers in the state of Punjab during 1978-1989. We find a significant reduction in expenditure on education by households with a high ratio of girls to boys and those residing in violence affected districts, which suggests that this reduction was one of the demand-side channels through which conflict affected education. |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:hic:wpaper:143&r=edu |
| By: | Angela Romagnoli (Bank of Italy); Maurizio Trifilidis (Bank of Italy) |
| Abstract: | In the 2008-09 school year the Bank of Italy and the Italian Ministry of Education started an experimental program to incorporate financial education into school curricula. This paper describes the experience since then. According to the program, teachers receive training from the Bank on financial topics and then move on to classroom teaching. The effect of classroom teaching on pupils’ financial knowledge is measured by tests. The empirical evidence shows that the program proved successful in increasing the financial knowledge of pupils, for longer than one year. |
| Keywords: | financial literacy, youth financial education, money, pre-/post-test design |
| JEL: | D14 I22 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:opques:qef_155_13&r=edu |
| By: | Elaine Liu (University of Houston); Shu Zhang (University of Houston) |
| Abstract: | This paper performs a meta-analysis to investigate how changes over time, model specifications, differences in data sets, and variable definitions could contribute to the differences in estimates of returns to education in China. The results show that approximately 10 percent of the variation can be explained by changes in labor market over time, while the other 45 percent can be explained by differences in samples used and empirical methods. Return to education has increased approximately 0.2 percentage points a year since the economic reform, and increases more quickly as the reform progresses; however, this accelerating trend has reached a stop in the last few years when the global recession hit China. We also find that returns to education for rural-to-urban migrant workers are 2.3 percentage points lower than that of urban workers. We conclude that the increasing reward for human capital accumulation over time signals that China is moving toward a well functioning labor market. |
| Keywords: | Returns to Education, China, Meta-Analysis |
| JEL: | I20 J3 O12 |
| Date: | 2013–04–08 |
| URL: | http://d.repec.org/n?u=RePEc:hou:wpaper:201309855&r=edu |
| By: | Damiani, Mirella; Ricci, Andrea |
| Abstract: | In this paper, we investigate the influence of the education of entrepreneurs, which we hypothesise to be a signal of talent, on the adoption of variable pay (VP) schemes in the Italian economy. We estimate to what extent differences in the diffusion of VP between Italian firms reflect differences in the quality of entrepreneurs. Our estimates, which we obtained by taking both endogeneity and unobserved heterogeneity into account, validate hypotheses about the direct positive effects of entrepreneurs’ education on the adoption of VP schemes. Furthermore, we ascertain the role of entrepreneurs’ education by examining its influence on the choice between different types of VP bonuses at the individual, group, or establishment levels. Our results suggest that highly educated entrepreneurs are more likely to use individual or collective forms of VP schemes at the establishment level rather than team VP incentives. |
| Keywords: | Variable pay, education |
| JEL: | J33 J50 |
| Date: | 2013–04–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:46163&r=edu |
| By: | Jaime L. Thomas |
| Abstract: | This article examines the relationship between combination class membership in 1st grade and 1st-grade test scores, finding that 1st graders are not harmed by being in a combination class or by their schools offering combination classes. As long as other stakeholders—such as parents, teachers, and students in other grades—are not made worse off, these findings suggest that offering combination classes may be a viable cost-saving option for school administrators. |
| Keywords: | Costs, Educational Economics, Educational Finance, Human Capital; imput output analysis |
| JEL: | I |
| Date: | 2012–12–30 |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:7710&r=edu |
| By: | Polachek, Solomon (Binghamton University, New York); Das, Tirthatanmoy (Temple University); Thamma-Apiroam, Rewat (Kasetsart University) |
| Abstract: | We derive a tractable nonlinear earnings function which we estimate separately for each individual in the NLSY79 data. These estimates yield five important parameters for each individual: three ability measures (two representing the ability to learn and one the ability to earn), a rate of skill depreciation, and a time discount rate. In addition, we obtain a population wide estimate of the rental rate of human capital. To illustrate heterogeneity in the production of human capital, we plot the distribution of these parameters along with NLSY79 reported AFQT scores. By utilizing these parameters, we are able to verify a number of heretofore untested theorems based on the life-cycle human capital model. In addition, we are able to show how these human capital production function parameters relate to cognitive ability, personality traits, and family background. Among our results, we find: Black-white differences in ability are smaller than those exhibited in standardized tests. Blacks have higher time discount and skill depreciation rates than whites. Individuals with higher time discount rates and greater rates of skill depreciation have fewer years of school. Individuals with both a high internal locus of control and self-esteem exhibit greater ability, lower skill depreciation, and smaller time discount rates. Individuals inclined towards depression have higher time discount rates. Agreeable, open, conscientious and extrovert individuals have a greater ability to learn but not necessarily a greater ability to earn. Neurotic individuals have a lower ability to learn. Higher parental education is associated with a greater ability to learn, lower skill depreciation, and a smaller time discount rate. Educational stimuli, such as growing up in a household that subscribed to magazines, are associated with higher ability. Conversely, growing up poor is associated with lower ability. |
| Keywords: | life-cycle model, ability to learn, ability to earn, heterogeneity, earnings function |
| JEL: | J24 J29 J31 J39 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp7335&r=edu |
| By: | Julian Donaubauer; Dierk Herzer; Peter Nunnenkamp |
| Abstract: | We address the question of whether foreign aid helps attract foreign direct investment (FDI). This could be achieved if well targeted aid removed critical impediments to higher FDI inflows. In particular, we test the hypothesis that aid for education is an effective means to increase FDI flows to host countries in Latin America where schooling and education appears to be inadequate from the viewpoint of foreign investors. We employ panel data techniques covering 21 Latin American countries over the period from 1984 to 2008. We find that aid for education has a statistically significant positive effect on FDI. This effect is robust to potential outliers, sample selection, alternative specifications and different estimation methods. |
| Keywords: | foreign aid, foreign direct investment, aid effectiveness, human capital |
| JEL: | E24 F21 F35 O15 O19 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:wsr:wpaper:y:2013:i:120&r=edu |
| By: | Ruth Uwaifo Oyelere (School of Economics, Georgia Institute of Technology); Kate Wharton (Georgia Institute of Technology) |
| Abstract: | Forty years of low-intensity internal armed conflict have made Colombia home to over 3 million Internally Displaced Persons (IDPs), the world’s largest population. The effect of violence on a child’s education is of particular concern because of the critical role that education plays in increasing human capital and productivity. This paper explores the education accumulation and enrollment gaps created by being directly affected by conflict. We proxy for this direct impact by focusing on IDPs. First, we show that measuring the impact of conflict on children using levels of conflict at the municipal level underestimates the education enrollment and accumulation gaps. We subsequently estimate the education accumulation and enrollment gaps for IDPs in comparison to non-migrants and other migrants using various econometric techniques. Our results suggest a significant education accumulation gap for children of IDPs compared to non-migrants that widens to approximately half a year at the secondary level. We find no evidence of enrollment gaps at the primary level when appropriate controls are included, but we do find a lower probability of enrollment at the secondary level. The disparity in effects when we focus on direct exposure to conflict versus a dummy that captures living in a municipality with high conflict suggests the need to be careful when using the latter to estimate the impact of conflict. |
| Keywords: | Education Attainment, School Enrollment, Colombia, Internal Displacement, Conflict |
| JEL: | I24 O12 O15 J10 |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:hic:wpaper:141&r=edu |
| By: | Nadir Altinok (BETA (University of Lorraine), IREDU (University of Bourgogne, France); Claude Diebolt (BETA (Bureau d'Economie Théorique et Appliquée), France); Jean-Luc Demeulemeester (DULBEA (University of Bruxelles), Bruxelles) |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:afc:wpaper:03-13&r=edu |
| By: | Anders Stenberg |
| Abstract: | To facilitate individuals to adjust their skills to changes in market demands, Sweden has a relatively generous policy to stimulate formal adult education at the compulsory, upper secondary and tertiary levels. This paper provides an overview of what research has reported to assess if and/or how it may be an efficient use of tax payers’ money. Some institutional factors are also briefly presented to discuss what is likely to be required for such a policy to exist in a particular country.<BR>Afin d’aider les individus à adapter leurs compétences à l'évolution des demandes du marché, la Suède a adopté une politique relativement généreuse pour renforcer la participation des adultes à l'enseignement obligatoire, ainsi qu’au deuxième cycle du secondaire et au supérieur. Ce document donne un aperçu des résultats de la recherche dans ce domaine, avec pour objectif d’évaluer dans quelle mesure cette politique constitue une utilisation efficace de l'argent des contribuables, et de quelle façon. Certains aspects institutionnels sont également évoqués en bref afin de déterminer quels seraient les pré-requis si une telle mesure d’action publique devait être menée dans un autre pays. |
| Date: | 2012–02–06 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaab:62-en&r=edu |
| By: | Michael P. Cameron (University of Waikato); Richard Calderwood (University of Waikato); Ashleigh Cox (University of Waikato); Steven Lim (University of Waikato); Michio Yamaoka (Waseda University) |
| Abstract: | Understanding the financial literacy of young people is an essential prerequisite for developing effective education programmes designed to improve young people’s understanding of personal finance. In this paper, we present results from a survey of high school students which included a financial literacy component, a financial risk tolerance assessment, and basic demographic details. Overall, we find that financial literacy is lowest among financially poorer students, those with less English ability, and those with less academic ability. However, relative poverty and lower English ability were not related to the ability to apply financial knowledge. Thus, while financial education targeted to immigrant groups and the poor may improve overall financial literacy, a broader approach remains necessary. A general form of financial literacy education, beginning at the high school level, may be the key to improving financial literacy in the population in the long term. |
| Keywords: | financial literacy; financial education; risk tolerance; New Zealand |
| JEL: | A21 D14 |
| Date: | 2013–03–31 |
| URL: | http://d.repec.org/n?u=RePEc:wai:econwp:13/05&r=edu |
| By: | Mihály Fazekas; Tracey Burns |
| Abstract: | Governments in all OECD countries are facing the challenge of governing increasingly complex education systems. There is a growing need for governance structures that can handle this complexity and which can provide actors with the knowledge they need to make decisions. This working paper asks the question: How do governance and knowledge mutually constitute and impact on each other in complex education systems? It provides an answer through a state of the art literature review and original theoretical argumentation. It breaks new ground by combining different schools of academic and policy thinking which traditionally look at various aspects of the relationship between governance and knowledge separately. Research in public management, political science and public policy, sociology, institutional economics, and organisational management (particularly the knowledge transfer literature) is augmented with work from education and other social sciences, including healthcare, law, and social justice. This working paper argues that just as knowledge is crucial for governance, governance is indispensible for knowledge creation and dissemination. It proposes an analytical framework that combines models of governance with modes of learning and types of knowledge, and provides preliminary empirical examples to support this framework. In the context of diverse social, economic and political environments of OECD countries, the interaction between these two focal points – models of governance and types of knowledge – has become increasingly relevant to researchers, policy makers, and education stakeholders more generally. |
| Date: | 2012–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduaab:67-en&r=edu |
| By: | Gea M. Lee (School of Economics, Singapore Management University, 90 Stamford Road, Singapore 178903); Seung Han Yoo (Department of Economics, Korea University, Seoul, Republic of Korea 136-701) |
| Abstract: | This paper extends the signaling model by Spence (1973) to a dynamic frame-work in which human capital and signaling have a causal relationship: human capital investment is necessary to lower the marginal cost of signaling. We provide two main results on the characterization of equilibria. First, a pooling equilibrium can induce more worker types to make a human capital investment, and second, even with a pooling inducing fewer worker types to make the investment, the pooling?s social welfare can be greater. |
| Keywords: | Education, Human capital, Signaling |
| JEL: | D63 I21 J24 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:iek:wpaper:1301&r=edu |
| By: | M. Bratti; M. Mendola |
| Abstract: | This paper provides new evidence on the impact of parental health shocks on investment in child education using detailed longitudinal data from Bosnia and Herzegovina. Our study controls for individual unobserved heterogeneity by using child fixed effects, and it accounts for potential health misreporting by employing several, more objective, health indicators. Our results show that children of ill mothers, but not of ill fathers, are significantly less likely to be enrolled in education at ages 15-24. Moreover, there is some evidence that mothers’ health shocks have more negative consequences on younger children and sons. |
| Keywords: | Human Capital, Intrahousehold allocation, Health shocks, Education, Bosnia and Herzegovina |
| JEL: | I21 O15 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:cca:wchild:4&r=edu |
| By: | Naohiro Shichijo (Waseda University); Silvia Rita Sedita (University of Padova); Yasunori Baba (University of Tokyo) |
| Abstract: | Using Stokes's (1997) "quadrant model of scientific research", this paper deals with how the entrepreneurial orientation of scientists affects their scientific performance by considering its impact on scientific production (number of publications), scientific prestige (number of forward citations), and breadth of research activities (interdisciplinarity). The results of a quantitative analysis applied to a sample of 1,957 scientific papers published by 66 scientists active in advanced materials research in Japan found that (i) entrepreneurial scientists publish more papers than traditional scientists do, (ii) the papers published by Bohr scientists (traditional scientists with a stronger intention to fundamentality) demonstrate better citation performance than those published by Pasteur scientists (entrepreneurial scientists with a stronger intention to fundamentality) do, on average; (iii) if the focus is confined to high-impact papers, their prestige (i.e., forward citation counts) is favored by the authorship of Pasteur scientists; and (iv) the portfolio interdisciplinarity of papers authored by Pasteur scientists is higher (more diverse) than that of Bohr scientists. |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:pad:wpaper:0156&r=edu |