| Summary: | 碩士 === 國立臺北大學 === 經濟學系 === 96 === The revolution on higher education of Taiwan really made a huge success, but some negative effects have been created accordingly. Exceed of university graduates leads to an inefficient of resources allocation and reduces the signal of a bachelor degree. The social return of education will probably be decreased.
We use Mincer (1993), Ciccone and Peri (2006), and Acemoglu and Angrist (2001) as the basic model for our empirical research, and use the manpower utilization survey which was conducted in 1992 and 2007 by the MOI.
Based on this research, the regression coefficients of years of education and working experiences of the Mincerian human capital function are all positive. That matches what human capital theory says. On average, people who get more education and more working experiences will have higher salary level than those who receive less education and working experiences. The private return of education is predictably positive.
Using the model of Ciccone and Peri (2006), samples in this study represent that the increase in average years of schooling of the 15-year period has positive externalities, which means, the increase in average years of schooling has positive effect on individual's wage, and also has positive externalities on human capital. Meanwhile, the externalities on females are greater than the externalities on males.
While using Acemoglu and Angrist's (2001) model to examine the effects of the increase in average years of schooling and the increase in individual's years of schooling on individual's wage, we find that the regression coefficients of average years of schooling and individual's years of schooling show little difference. Besides, samples are divided into two groups for regression analysis, of which the first group contains individuals who have a highest degree of elementary school, junior high school, senior high school, and senior vocational school, and the second group contains rest of all. According to the regression results, the social return of the first group is higher than private return, while the second group has a higher private return than social return.
Although the “pecuniary” externalities of education are small, since that education has other benefits to individual or to the society, after all, the increase in average years of schooling actually has positive externalities to the whole society.
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