Although earnings premium throughout a life cycle has received considerable attention, this topic was understudied in the literature. To fill this gap, this paper examines the lifetime earnings premium over a 40-year career of the birth cohort of 1951-1955 in a knowledge-based economy in Asia. The results show that the lifetime education premium exhibits a generally rising trend despite some fluctuations during the Asian financial crisis, the SARS epidemic and a slow-down in growth rate in later ages. The findings about such a knowledge-based economy in Asia corroborate earlier studies about the persistent positive effect of higher education on lifetime earnings in Western societies. The findings reinforce the importance of the cumulative advantage of education from the life course perspective and governments are encouraged to provide incentives for youngsters to invest in human capital.
|Publication status||Published - 18 Nov 2022|
|Event||Conference for Higher Education Research (CHER) – Hong Kong 2022: Higher Education in Turbulent Times: Striving for a Bright Future through Collaborations - |
Duration: 18 Nov 2022 → 19 Nov 2022
|Conference||Conference for Higher Education Research (CHER) – Hong Kong 2022|
|Period||18/11/22 → 19/11/22|