Returns to investment in education: a decennial review of the global literature

Psacharopoulos, George; Patrinos, Harry Anthony

doi:10.1080/09645292.2018.1484426

Cited by 485 publications

(362 citation statements)

References 36 publications

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“…From Figure 2 (which represents the results of a study by Psacharopoulos and Patrinos (2004)), it can be noted that the private rate of return is higher than the social one in all levels of education. The same pattern can be seen in table 5, which represents the results of a study by Psacharopoulos and Patrinos (2018), where the private return rate is higher than social rate, regardless of the economic development of the countries. However, a number of indirect benefits have not been calculated here in, which, if they could be converted into monetary values, the social return rate could exceed the private one.…”

Section: Private and Social Rate Of Return To Educationsupporting

confidence: 71%

“…Therefore, the investor should be able to compare current costs with future earnings, to see if the investment is acceptable or not. For an investment to be acceptable, the benefits should at least cover the costs (Psacharopoulos and Patrinos, 2018). When making a decision to invest in education, individuals compare current costs to future incomes in order to maximize income or personal well-being.…”

Section: Cost Benefit Analysis: the Schooling Modelmentioning

confidence: 99%

“…Though, the number of studies contributed on this field have grown exponentially in recent years, to the extent of being hard to track (Psacharopoulos and Patrinos, 2018), we are going to present only the results from some of the most credible and most cited studies for assessing the rate of return to education on the global scale, those of Psacharopoulos and his colleagues from World Bank, Harry Anthony Patrinos and Claudio E. Montenegro. The series of publications of these authors started from Psacharopoulos in (1972), continuing with regular publications from Psacharopoulos (1973Psacharopoulos ( , 1981Psacharopoulos ( , 1985Psacharopoulos ( , 1994, later with Psacharopoulos and Patrinos (2002, 2004, and Montenegro and Patrinos (2014).…”

Section: Review Of Empirical Literaturementioning

confidence: 99%

“…Regarding gender differences, various studies argue that females achieve higher rates of return compared to males (Psacharopoulos and Patrinos 2004, Psacharopoulos 2014, Montenegro and Patrinos 2014, Peet et al, 2015. According to Psacharopoulos and Patrinos (2018), females at a global level realize a higher rate of return compared to males by about two percentage points (see fig. 3).…”

Section: Private Return Rate By Gendermentioning

confidence: 99%

“…This pattern can be seen in table 4, where the relationship between years of education and the return rate from education results to be negative in most periods of time, except for the period 2011-2013, where the relationship is positive. According to Psacharopoulos and Patrinos (2018), the rising rate in recent years can be explained by the great technological changes, which have clearly increased the demand for a high level of skills.…”

Section: The Rate Of Return Throughout Yearsmentioning

confidence: 99%

See 4 more Smart Citations

The returns to investment in education: Some theoretical and empirical insights

Mic¹,

Rahmije²

2019

EAI

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Section: Private and Social Rate Of Return To Educationsupporting

confidence: 71%

Section: Cost Benefit Analysis: the Schooling Modelmentioning

confidence: 99%

Section: Review Of Empirical Literaturementioning

confidence: 99%

Section: Private Return Rate By Gendermentioning

confidence: 99%

Section: The Rate Of Return Throughout Yearsmentioning

confidence: 99%

See 3 more Smart Citations

The returns to investment in education: Some theoretical and empirical insights

Mic¹,

Rahmije²

2019

EAI

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Estimates and Projections of the Global Economic Cost of 29 Cancers in 204 Countries and Territories From 2020 to 2050

et al. 2023

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ImportanceCancers are a leading cause of mortality, accounting for nearly 10 million annual deaths worldwide, or 1 in 6 deaths. Cancers also negatively affect countries’ economic growth. However, the global economic cost of cancers and its worldwide distribution have yet to be studied.ObjectiveTo estimate and project the economic cost of 29 cancers in 204 countries and territories.Design, Setting, and ParticipantsA decision analytical model that incorporates economic feedback in assessing health outcomes associated with the labor force and investment. A macroeconomic model was used to account for (1) the association of cancer-related mortality and morbidity with labor supply; (2) age-sex-specific differences in education, experience, and labor market participation of those who are affected by cancers; and (3) the diversion of cancer treatment expenses from savings and investments. Data were collected on April 25, 2022.Main Outcomes and MeasuresEconomic cost of 29 cancers across countries and territories. Costs are presented in international dollars at constant 2017 prices.ResultsThe estimated global economic cost of cancers from 2020 to 2050 is $25.2 trillion in international dollars (at constant 2017 prices), equivalent to an annual tax of 0.55% on global gross domestic product. The 5 cancers with the highest economic costs are tracheal, bronchus, and lung cancer (15.4%); colon and rectum cancer (10.9%); breast cancer (7.7%); liver cancer (6.5%); and leukemia (6.3%). China and the US face the largest economic costs of cancers in absolute terms, accounting for 24.1% and 20.8% of the total global burden, respectively. Although 75.1% of cancer deaths occur in low- and middle-income countries, their share of the economic cost of cancers is lower at 49.5%. The relative contribution of treatment costs to the total economic cost of cancers is greater in high-income countries than in low-income countries.Conclusions and RelevanceIn this decision analytical modeling study, the macroeconomic cost of cancers was found to be substantial and distributed heterogeneously across cancer types, countries, and world regions. The findings suggest that global efforts to curb the ongoing burden of cancers are warranted.

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PROTOCOL: Policies and interventions to remove gender‐related barriers to girls’ school participation and learning in low‐ and middle‐income countries: A systematic review of the evidence

Chuang

Mensch

Psaki

et al. 2019

Campbell Systematic Reviews

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BACKGROUND 1.1 | The problem: gender equality in schooling and the gendered school environment Successful policies and programs are directly tied to the quality of the evidence informing them, but too often scarce resources are invested in education interventions that are not evidence-based. Low-and middle-income countries have made enormous progress in expanding primary school enrollment since the 1990s. Yet questions remain about the causes and consequences of continued gender gaps in school enrollment, progression, skill acquisition and school quality, as well as the best approaches to promoting broader outcomes like ambition, agency, cognitive ability and critical thinking skills. Despite UNESCO's declaration that gender parity had been achieved globally in primary education by 2014 (UNESCO, 2016), a recent analysis of trends over 10 years in 43 countries between 1997 and 2007 (Time 1) and 2008 and 2014 (Time 2; Psaki, McCarthy, & Mensch, 2018) revealed that, in many low-and middle-income countries: • Progress in girls' educational attainment has stagnated; of the 43 countries, only three made substantial progress in both female attainment and gender parity.

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Returns to investment in education: a decennial review of the global literature

Cited by 485 publications

References 36 publications

The returns to investment in education: Some theoretical and empirical insights

The returns to investment in education: Some theoretical and empirical insights

Estimates and Projections of the Global Economic Cost of 29 Cancers in 204 Countries and Territories From 2020 to 2050

PROTOCOL: Policies and interventions to remove gender‐related barriers to girls’ school participation and learning in low‐ and middle‐income countries: A systematic review of the evidence

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