Evolution of the profitability of higher education in Panama

Abstract

This research analyzes the evolution of the rate of return of education in Panama at primary, secondary and higher education. The database the author made use of is the Household Survey of the National Institute for Statistics and Census (2001, 2004 and 2009). The Mincer equation and takes into account the possible bias in the sample selection. The yield of education is still the main source for increasing the income. Nevertheless the conclusion the author obtained confirms that higher education is the most profitable, although between 2001 and 2009 those yields decreased significantly.