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Investing in skill: expected returns to vocational studies

Bennett, Robert, Glennerster, Howard and Nevison, Douglas (1995) Investing in skill: expected returns to vocational studies. Education Economics, 3 (2). pp. 99-117. ISSN 0964-5292

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Identification Number: 10.1080/09645299500000011


This paper estimates forecast equations and real rates of return for 16–19-year-olds from different vocational qualifications in Britain. The data used for estimation are the individual responses in the General Household Survey for the years 1985–1988. The earnings equations are estimated separately for males and females. The research suggests that, at the minimum school leaving age, the demand for qualifications will be influenced by anticipated earnings. It demonstrates that inadequate returns to low-level vocational qualifications compared with higher qualifications or no qualifications may discourage individuals from engaging in some forms of vocational training. The paper concludes that changes are still required by employers, in matching wages to the achieved level of training, and by government in developing systems of qualifications that truly achieve a ‘parity of esteem’ between different qualifications.

Item Type: Article
Official URL:
Additional Information: © 1995 Routledge
Divisions: Social Policy
Centre for Analysis of Social Exclusion
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HV Social pathology. Social and public welfare. Criminology
University Structure > Language Centre > LC5201 Education extension. Adult education. Continuing education
Date Deposited: 03 Jun 2008 15:33
Last Modified: 15 May 2024 23:37

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