Returns to Schooling in Saint Lucia using a Mincerian Earning Framework

This paper sought to assess the returns to education in Saint Lucia. Having made significant public investment in education through school plant underscored by the universal primary and secondary education policy questions have emerged regarding the efficacy of this approach in the face of clear evidence that many person are go to and through school without learning which obviously defeats the purpose. Using the 2016 Survey of Living Conditions and the Household Budgetary Survey (SLC\HBS) we estimate a Mincerian Wage Function for Saint Lucia. The results show that there are huge returns to one additional year of schooling as well as one additional year of job experience. On that basis the paper suggest that Government should increase the years of schooling in Saint Lucia beyond the mandatory 5 to 15 year as per the Education Act, but the authors advocates that this increase should be in Early Childhood Education.

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