The returns of investment in tertiary technological education in greece

Abstract

This study estimates the returns of investment in the Greek tertiary technological education from the student’s and the society’s point of view. The study uses earnings data from a stratified sample. The methods used for the estimation of the rates of return were the elaborate and the Mincerian. In the latter method we used both the actual experience from the sample and the potential experience. The estimated rates of return by implementing the two methods are similar. Additionally, the private rate of return by using the actual experience is smaller compared to that arising from the potential experience. The difference is bigger for females than for males. The final conclusion is that the social and private investment in tertiary technological education is an efficient investment. © 2002 Taylor & Francis Group, LLC.