Social and Behavioral Sciences Commons^™

Private Returns To Investment In Higher Levels Of Education In Kenya, Gary S. Fields

Gary S Fields

[Excerpt] A widespread phenomenon in less-developed countries-has been the rapid growth of schools and institutions of higher learning resulting in a so-called “education explosion." One possible explanation for the education explosion is that education is a profitable personal investment, as evidenced by high private rates of return. The high private returns are translated into demands on politicians for additional schooling spaces. To gain or maintain public favor, each politician uses his influence to try to increase the number of schools in his constituency. By this chain of events, growth of educational systems might be anticipated as long as private rates …