Returns to Schooling in Saint Lucia using a Mincerian Earning Framework
This paper sought to assess the returns to education in Saint Lucia. Having made significant public
investment in education through school plant underscored by the universal primary and secondary
education policy questions have emerged regarding the efficacy of this approach in the face of clear
evidence that many person are go to and through school without learning which obviously defeats the
purpose. Using the 2016 Survey of Living Conditions and the Household Budgetary Survey (SLC\HBS) we
estimate a Mincerian Wage Function for Saint Lucia. The results show that there are huge returns to one
additional year of schooling as well as one additional year of job experience. On that basis the paper suggest
that Government should increase the years of schooling in Saint Lucia beyond the mandatory 5 to 15 year
as per the Education Act, but the authors advocates that this increase should be in Early Childhood
Education. | |
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