Micro-econometric analysis of the effects of school education and non-formal education on human capital formation

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The purposes of this study are to estimate returns to education by using Quantile Regression and to examine how different they are by quantiles and by cohorts. Using cross-sectional data, which existing studies in western countries also used, I found that returns of high quantiles are higher than those of low quantiles and the difference in returns is comparable in size to those of existing studies in western countries. However, when I restricted the sample to young people, there isn't a difference between returns of high quantiles and those of low quantiles. When I used the sample of old people, I found larger difference in returns than that of the whole sample. Lastly, I estimated returns to education by cohorts using young sample and I didn't find differences among cohorts.