Does examination hell pay off? A cost-benefit analysis of “ronin” and college education in Japan
نویسنده
چکیده
College-bound students in Japan undergo a process of intense preparation known as examination hell. An extreme manifestation of examination hell is the ronin phenomenon. Typically thirty percent of students choose the ronin option under which they spend years in addition to high school preparing for the next year’s college entrance examinations. Using the mean scores of the entrance examinations as a measure of college quality, I find that college quality significantly improves the internal rate of return (IRR) to college education among the sample of male graduates in Japan. Ronin increases earnings indirectly by improving the quality of the college attended. I also show that the IRR with respect to ronin is one of diminishing returns. On average, the number of ronin years which maximizes the IRR is found to be somewhere between one and two years.
منابع مشابه
Does Examination Hell Pay Off? the Cost-benefit Analysis of College Education in Japan
for comments on an earlier draft of the paper, and to the participants of the Economics Seminar at the Stockholm School of Economics for their critical feedback. I also thank the Center for East Asian Studies at the University of Chicago and the American Compensation Association for their generous financial support. ABSTRACT The obsession over college prestige and the highly competitive environ...
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