Do higher levels of education and skills in an area benefit wider society?

Formal schooling increases earnings and provides other individual benefits. However, societal benefits of education may exceed individual benefits. Research finds that higher average education levels in an area are correlated with higher earnings, even for local residents with minimal education. Science, technology, engineering, and mathematics (STEM) graduates appear to generate especially strong external effects, due to their role in stimulating innovation and economic growth. Several strategies to test for causality find human capital externalities do exist.

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Year of publication:	2018
Authors:	Winters, John V.
Published in:	IZA World of Labor. - Bonn : Institute of Labor Economics (IZA), ISSN 2054-9571. - 2018
Publisher:	Bonn : Institute of Labor Economics (IZA)
Subject:	human capital \| education \| schooling \| externalities \| earnings \| employment

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	10.15185/izawol.130.v2 [DOI] 1042083967 [GVK] hdl:10419/193423 [Handle] RePEc:iza:izawol:journl:2018:n:130 [RePEc]
Classification:	J2 - Time Allocation; Work Behavior; Employment Determination and Creation ; R2 - Household Analysis ; I2 - Education
Source:	EconStor

Persistent link: https://www.econbiz.de/10011984689