Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/236363 
Year of Publication: 
2021
Series/Report no.: 
IZA Discussion Papers No. 14332
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Education can generate important externalities that contribute towards economic growth and convergence. In this paper, we study such externalities and their drivers by conducting the first meta-analysis of the social returns to education literature. We analyse over 1,000 estimates from 32 journal articles published since 1993, covering 15 countries of different levels of development. Our results indicate that: 1) there is publication bias (but not citation bias) in the literature; 2) spillovers slow down with economic development; 3) tertiary schooling and schooling dispersion increase spillovers; and 4) spillovers are smaller under fixed-effects and IV estimators but larger when measured at the firm level.
Subjects: 
returns to education
education externalities
JEL: 
I26
I28
J24
J31
C36
Document Type: 
Working Paper

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