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All Journal Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan
Yusuf Faisal Martak
Urban Studies Program, School of Strategic and Global Studies, Universitas Indonesia
Economics, Econometrics & Finance

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Rate of Return on Education in Indonesia: The Privilege of A High Economic Group and Urban Areas Yusuf Faisal Martak; Chotib Chotib
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 22, No 1 (2021): JEP 2021
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v22i1.13006

Abstract

Investing in education for an individual is one of the best ways to improve their welfare. However, each individual’s returns from education investment vary depending on individual characteristics, household, and regional support. This study aims to analyze the rate of return on education of individuals in Indonesia in general and based on the characteristics of the residence and the individual’s economic level. Using the Mincer equation, the results of the study show that urban types functionally and administratively have a higher average rate of return than functional and administrative rural areas of 2.9% and 1.9%, respectively. In addition, the rate of return to education at the economic level of quantile 5 in urban areas is 2 times higher than that of quantile 1 in urban areas and quantile 5 in rural areas.
Co-Authors Chotib Chotib