Considerable recent research both for the developing as well as the developed countries has provided evidence for the existence of the sheepskin effect to the economic returns in schooling investment. However, there has not been much empirical work investigating the mechanism that may lie behind...

Significant amount of recent research continues to produce evidence in support of the presence of sheepskin effects in returns to schooling both for developed and developing countries. However, researchers have not made many attempts to identify or empirically test the possible mechanisms that...