Earnings and education among the self employed in Colombia
Arriagada, Ana-Maria | Psacharopoulos, George | Velez, Eduardo
A major debate in the economics of education is the extent to which observed earnings differentials between more and less educated workers reflect differences in productivity. This study focuses on the earnings of the self-employed and those in the private sector of the economy. It is argued that in a competitive economy wage differences within such sectors is a good proxy for productivity differences by level of education. Data from a 1984 sample of about 21,000 workers in Colombia support the hypothesis that the returns to education among the self-employed are highest relative to any other grouping of workers. The policy implications of such findings are discussed.
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