Tazeen Fasih, Harry Anthony Patrinos, Chris SakellariouFunctional Literacy, Heterogeneity and the Returns to Schooling: Multi-Country Evidence
Policy Research Working Paper 6697
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Abstract
Little is known about which of the skills that make up
workers’ human capital contribute to higher earnings.
Past empirical evidence suggest that most of the return to
schooling is generated by effects or correlates unrelated
to the skills measured by the available tests. This paper
uses the International Adult Literacy and the Adult
Literacy and Life Skills surveys to obtain multi-country
estimates of the components of the return to schooling.
The results reveal considerable heterogeneity and a
dichotomy between two groups of countries. For a
subgroup of educationally advanced countries, nearly
half of the return to schooling can be attributed to labor
marker-relevant functional literacy skills associated with
schooling, while for a subgroup of less educationally
advanced countries, such skills account for just over 20
percent of the return to schooling, while the return to
schooling mostly reflects the signaling value of schooling.
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