RETURNS TO INVESTMENT IN EDUCATION WITHIN THE HUMAN CAPITAL THEORY: MODELLING AND TRENDS
MODELIRANJE I KRETANJE STOPE POVRAĆANJA NA ULAGANJE U OBRAZOVANJE U OKVIRU POSTAVKA TEORIJE LJUDSKOG KAPITALA
Cilj rada jeste da pruži uvid u ekonometrijsko modeliranje ocene stope povraćaja na ulaganje u obrazovanje u metodološkim okvirima teorije ljudskog kapitala. Posebno je istaknut problem endogenosti sa kojim se istraživači suočavaju, a koji se javlja usled izostavljanja neuočljivih karakteristika pojedinica, poput sposobnosti, što dovodi do precenjenosti ocene stope povraćaja na ulaganje u obrazovanje. U radu je pored eksperimentalnog metoda, opisan i metod instrumentalnih promenljivih, kao neeksperimentalni metod koji se može primeniti radi prevazilaženja problema endogenosti. Dodatno, u radu je predstavljen sumarni prikaz rezultata oko 700 studija sprovedenih u periodu od 1960. do 2010. godine, u kojima je ocenjena stopa povraćaja ulaganja u obrazovanje.
ABSTRACT: The aim of the paper is to provide insight into the econometric modelling of the rate of return on investment in education within the methodological framework of the human capital theory. The problem of endogeneity is particularly highlighted, which occurs due to the omission of unobservable characteristics of individuals, such as ability, and which leads to a biased estimate of returns to education. In addition to the experimental method, the paper also describes the instrumental variables method, as a non-experimental method which can be applied to overcome the endogeneity problem. Additionally, the paper provides a summary of the results of about 700 studies conducted in the period from 1960 to 2010, in which returns to education were assessed.
srpski
2023
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Creative Commons CC BY-NC-ND 4.0 - Creative Commons Autorstvo - Nekomercijalno - Bez prerada 4.0 International License.
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KEYWORDS: HUMAN CAPITAL, RETURNS TO EDUCATION, ENDOGENEITY PROBLEM.
KLJUČNE REČI: LJUDSKI KAPITAL, STOPA POVRAĆAJA ULAGANJA U OBRAZOVANJE, PROBLEM ENDOGENOSTI.