This paper uses newly available Chinese micro data to estimate the return to college education for late 20th century … return to education has increased substantially in China, compared to the returns measured in the 1980 s and the early 1990's. …

primary school education from 7 to 8 years. At the same time, the reform did not affect the education system at post …-primary levels, that is the system of secondary and higher education. In result, all education tracks were extended by one year … reform had a negative impact on the hourly earnings of individuals with primary education. …

researchers. Economists have speculated for at least a century that the social returns to education may exceed the private returns … implementing individual fixed effects estimates. The individual fixed effect model shows that the external returns to education in … problem, we then implement the IV fixed effect estimates and find positive external returns to education at about 10%. We also …