Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/318884 
Year of Publication: 
2025
Series/Report no.: 
GLO Discussion Paper No. 1616
Publisher: 
Global Labor Organization (GLO), Essen
Abstract: 
The evidence underscores the need to shift attention from school attainment to actual learning. While the average global return to an additional year of schooling is about 10 percent, a one standard deviation increase in test scores raises earnings by 15 percent. Studies show that including direct measures of skills reduces the estimated return to schooling, revealing the stronger role of quality. These findings suggest that education policy should prioritize learning outcomes, not just years in school, to more accurately reflect the economic value of education.
Subjects: 
Returns to education
cognitive skills
earnings
JEL: 
I21
I26
J24
Document Type: 
Working Paper

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