| Description |
1 online resource |
| Series |
Directions in development. Human development |
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Directions in development (Washington, D.C.). Human development.
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| Contents |
Preface; About the Authors; Acknowledgments; Abbreviations; Chapter 1 Introduction and Summary; Note; References; Chapter 2 The Decline in Education Earnings Premiums in LAC; The Emergence of a Declining Trend in Earnings Premiums; Controlling for Ability Bias; Annex: Modeling Factor Endowments and Educational Choice; Notes; References; Chapter 3 Education and the Demand for Skills; Educational Expansion in Latin America; Benchmarking Expansion in East Asia and Eastern Europe; Market Drivers of Earnings Premiums; Notes; References; Chapter 4 Education Quality and Student Achievement |
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Trends in Learning Achievement: Evidence from the PISA Tests Benchmarking LAC's Performance on PISA; Inferring the Trends in Tertiary Quality from Earnings Variance; Notes; References; Chapter 5 Is Labor Demand in LAC Accommodating to Inferior Skills?; The Structure and Dynamics of Skills in LAC; Technology Adoption and the Demand for Skills in LAC: What Can We Learn from the Time Taken to Fill Job Vacancies?; Notes; References; Chapter 6 Conclusions; Boxes; 2.1 Comparing Skill Premiums and Industry-Skill Composition in LAC and East Asia |
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3.1 Supply and Demand Framework for Measuring Determinants of Returns to Skill 3.2 A Between-Within Decomposition for Employment Changes; Figures; 2.1 Evolution of Education Earnings Premiums, Selected LAC Countries; 2.2 Evolution of Education Earnings Premiums for Completed Primary, Secondary, and University Education, Selected LAC Countries; 2.3 Evolution of Education Earnings Premiums for Completed Secondary Education, Selected LAC Countries, by Gender; 2.4 Evolution of Education Earnings Premiums for Completed University Education, Selected LAC Countries, by Gender |
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B2.1 Industry-Skill Composition and Wage Premiums in East Asia 2.5 Time Trends in Earnings Premium Estimates Including Parents' Education as an Explanatory Variable, Selected LAC Countries; 2A.1 Sequential Model for Schooling Decisions; 3.1 Percentage of 25- to 35-Year-Old Nonstudents at Various Education Levels, by LAC Country and Year; 3.2 Percentage of 15- to 35-Year-Olds at Various Education Levels, Selected LAC Countries, 1998, 2003, and 2008; 3.3 Percentage of 25- to 35-Year-Old Nonstudents at Various Education Levels, Selected LAC Countries, 1998, 2003, and 2008 |
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3.4 Percentage of 25- to 35-Year-Old Nonstudents at Various Education Levels, Chile and Uruguay 3.5 Percentage of 15- to 35-Year-Old Males at Various Education Levels, Selected LAC Countries, 1998, 2003, and 2008; 3.6 Percentage of 15- to 35-Year-Old Females at Various Education Levels, Selected LAC Countries, 1998, 2003, and 2008; 3.7 Percentage of Population at Various Education Levels, by Global Region, 1950-2010; 3.8 Educational Attainment of Population 15 Years and Older, 1990-2010, by Global Region |
| Summary |
This report contributes to the debate about the quality of education and returns to education investment in Latin America and the Caribbean (LCR). It aims to improve our understanding of the links from investment in education and training to labor market outcomes and to provide a basis for policy choices that will strengthen future outcomes. The report is organized in four main chapters. Chapter 2 documents the recent downturn in education earnings premia using standard 'mincerian' regressions based on household survey data. Chapter 3 explores the underlying supply-side and demand-side drivers of the trends in premia. It documents the recent expansion of education coverage in LCR, benchmarks it against other regions, and presents an in-depth analysis of the relative importance of shifts in the supply and demand for skills in generating declining earnings premia. Using a methodological approach first developed by Katz and Murphy, it concludes that demand-side changes appear to be the critical factor. It also analyzes the role of institutional factors, finding that minimum wages also have likely played an important role in the compression of labor earnings. Chapter 4 focuses on trends in student achievement and the cost-effectiveness of secondary education. It analyzes trends data from the OECDs PISA survey of 15-year-old children in secondary education which covered nine LCR countries in 2009. It shows that achievement is improving slowly, but remains well behind the OECD. It presents benchmarking evidence suggesting that LCR may be both under-resourcing secondary education and also getting poor returns per dollar invested -- a classic low-quality equilibrium. Chapter 5 presents evidence on the fit between the skill set of LCR workers and the needs of the economy, applying an approach first developed by Levy and Murnane in the U.S.A. Analysis of the industrial composition of employment in four countries suggests that LCR is lagging in those industries that require relatively sophisticated 'new economy' skills in the U.S.A. Further evidence that cutting-edge firms in LCR might be facing skill constraints comes from the hiring lags registered in enterprise surveys |
| Bibliography |
Includes bibliographical references and indexes |
| Notes |
Print version record |
| Subject |
Education -- Economic aspects -- Latin America
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Education -- Economic aspects -- Caribbean Area
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Wages -- Latin America
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Wages -- Caribbean Area
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BUSINESS & ECONOMICS -- Industries -- Service.
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Education -- Economic aspects
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Wages
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Caribbean Area
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Latin America
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| Form |
Electronic book
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| Author |
Walker, Ian, 1954-
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World Bank.
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| ISBN |
9780821389355 |
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0821389351 |
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