Spending on Research and the Returns to Education in Italy

The essay reviews the different notions of returns to education ordinarily used in the economic policy debate and provides estimates of the quantitative importance of each. Investment in education is profitable both for individuals and for society even from the strictly economic standpoint; and incl...

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Bibliographic Details
Main Author:	Cipollone, Piero
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	National Government Expenditures and Education H520 Analysis of Education I210 Education: Government Policy I280 Human Capital Skills Occupational Choice Labor Productivity J240 Wage Level and Structure Wage Differentials J310
Online Access:	http://hdl.handle.net/10986/5527

id	okr-10986-5527
recordtype	oai_dc
spelling	okr-10986-55272021-04-23T14:02:22Z Spending on Research and the Returns to Education in Italy Cipollone, Piero National Government Expenditures and Education H520 Analysis of Education I210 Education: Government Policy I280 Human Capital Skills Occupational Choice Labor Productivity J240 Wage Level and Structure Wage Differentials J310 The essay reviews the different notions of returns to education ordinarily used in the economic policy debate and provides estimates of the quantitative importance of each. Investment in education is profitable both for individuals and for society even from the strictly economic standpoint; and including the effects of education on other dimensions of individual and collective welfare only strengthens this conclusion. The various indicators also show that the returns to investment in education, especially for younger people, are lower in Italy, despite the country's severe shortage of human capital. This paradoxical situation raises serious problems for economic policy in Italy, because the price signals that the market is transmitting to agents do not favour the rapid accumulation of knowledge that is needed in order to escape from the slow-growth trap. 2012-03-30T07:33:16Z 2012-03-30T07:33:16Z 2010 Journal Article Review of Economic Conditions in Italy 00346799 http://hdl.handle.net/10986/5527 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Italy
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	National Government Expenditures and Education H520 Analysis of Education I210 Education: Government Policy I280 Human Capital Skills Occupational Choice Labor Productivity J240 Wage Level and Structure Wage Differentials J310
spellingShingle	National Government Expenditures and Education H520 Analysis of Education I210 Education: Government Policy I280 Human Capital Skills Occupational Choice Labor Productivity J240 Wage Level and Structure Wage Differentials J310 Cipollone, Piero Spending on Research and the Returns to Education in Italy
geographic_facet	Italy
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	The essay reviews the different notions of returns to education ordinarily used in the economic policy debate and provides estimates of the quantitative importance of each. Investment in education is profitable both for individuals and for society even from the strictly economic standpoint; and including the effects of education on other dimensions of individual and collective welfare only strengthens this conclusion. The various indicators also show that the returns to investment in education, especially for younger people, are lower in Italy, despite the country's severe shortage of human capital. This paradoxical situation raises serious problems for economic policy in Italy, because the price signals that the market is transmitting to agents do not favour the rapid accumulation of knowledge that is needed in order to escape from the slow-growth trap.
format	Journal Article
author	Cipollone, Piero
author_facet	Cipollone, Piero
author_sort	Cipollone, Piero
title	Spending on Research and the Returns to Education in Italy
title_short	Spending on Research and the Returns to Education in Italy
title_full	Spending on Research and the Returns to Education in Italy
title_fullStr	Spending on Research and the Returns to Education in Italy
title_full_unstemmed	Spending on Research and the Returns to Education in Italy
title_sort	spending on research and the returns to education in italy
publishDate	2012
url	http://hdl.handle.net/10986/5527
_version_	1764395373989724160

Spending on Research and the Returns to Education in Italy

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