Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Returns to human capital investment in a transition economy The case of Russia, 1994‐1998

Returns to human capital investment in a transition economy The case of Russia, 1994‐1998 Russia has undergone tumultuous changes during the transition process. This has been nowhere more evident than within the labour market. The transition has now progressed to such an extent that it is possible to examine whether the issues of a re‐capitalisation and restructuring of human capital have been addressed. This paper uses the Russian Longitudinal Monitoring Survey to assess rates of return to human capital investments for the years 1994‐1998. It utilises standard earnings functions to assess the returns to education as well as to specific levels of post‐compulsory education and training. This article places specific emphasis on firm level training and the role of the firm, for the purpose of this special issue. Results suggest, in the case of Russia, that significant and positive returns to education and training exist comparable in magnitude to those in other transition countries. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Manpower Emerald Publishing

Returns to human capital investment in a transition economy The case of Russia, 1994‐1998

Andrew Clark
International Journal of Manpower , Volume 24 (1): 20 – Feb 1, 2003
Download PDF
20 pages

Loading next page...
 
/lp/emerald-publishing/returns-to-human-capital-investment-in-a-transition-economy-the-case-tWyASeRMYr
Publisher
Emerald Publishing
Copyright
Copyright © 2003 MCB UP Ltd. All rights reserved.
ISSN
0143-7720
DOI
10.1108/01437720310464945
Publisher site
See Article on Publisher Site

Abstract

Russia has undergone tumultuous changes during the transition process. This has been nowhere more evident than within the labour market. The transition has now progressed to such an extent that it is possible to examine whether the issues of a re‐capitalisation and restructuring of human capital have been addressed. This paper uses the Russian Longitudinal Monitoring Survey to assess rates of return to human capital investments for the years 1994‐1998. It utilises standard earnings functions to assess the returns to education as well as to specific levels of post‐compulsory education and training. This article places specific emphasis on firm level training and the role of the firm, for the purpose of this special issue. Results suggest, in the case of Russia, that significant and positive returns to education and training exist comparable in magnitude to those in other transition countries.

Journal

International Journal of Manpower – Emerald Publishing

Published: Feb 1, 2003

Keywords: Human resource development; Investment; Education; Russia; Labour market

References

  • Sample selection bias as a specification error
    Heckman, J.J.