THE SHRINKING EARNINGS PREMIUM FOR UNIVERSITY GRADUATES IN HONG KONG: THE EFFECT OF QUANTITY OR QUALITY? HON-KWONG LUI and WING
نویسندگان
چکیده
In 1989 the Hong Kong government embarked on a program to increase the provision of first-year first-degree places. The expansion of tertiary education represents a large and exogenous increase in supply of university graduates to the territory. This paper measures the labor market effects of the expansion program by studying the changes in earnings premium for university graduates. Two alternative hypotheses—crowding and quality effects—are identified to explain why the earnings premium shrank. The results support the view that the declining quality of university graduates is the prime candidate for the declining earnings premium. JEL Code: J31, I28, J18 Correspondence to: Hon-Kwong Lui Department of Marketing & International Business Lingnan University Tuen Mun Hong Kong, CHINA Voice: (852) 2616-8233 Fax: (852) 2467-3049 Email: [email protected]
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