RETURNS TO INVESTMENT IN EDUCATION - A GLOBAL UPDATE

The paper provides a comprehensive update of the profitability of inve stment in education at a global scale. The rate of return patterns est ablished in earlier reviews are upheld: namely, that primary education continues to be the number one investment priority in developing coun tries; the returns decline by the level of schooling and the country's per capita income; investment in women's education is in general more profitable than that for men; returns in the private competitive sect or of the economy are higher than among those working in the public se ctor; and that the public financing of higher education is regressive. The above findings are discussed in the context of controversies in t he field, concluding that investment in education continues to be a ve ry attractive investment opportunity in the world today - both from th e private and the social point of view.