Rates of Return to Human Capital: A Test using El Salvador Data
利用萨尔瓦多劳动力市场的大数据集，检验人力资本理论中的收入函数是否适用于发展中国家，并考察工作经验回报是否与教育回报相近。
Most of the empirical work on human capital has been confined to conditions in developed countries. This is probably due to difficulties in obtaining data for other countries. It would be interesting to see how robust the theory and its associated models are in conditions regarded as typical for developing countries. This will be considered here using a large data set describing the El Salvador labor market. Two questions will be examined, namely, (a) How well does the earnings function of the human capital theory explain earnings distribution in El Salvador; and (b) Does the return to training, called experience here, approximate the return to school as is often assumed in human capital research? The latter issue is of course related to the notion of overtaking, the point in the experience profile when the flat earnings stream is intersected from below by the earnings stream affected by postschool investments.