The average global rate of return on one extra year of schooling is about 9 percent a year and remains very stable over decades, according to a new World Bank policy research paper. “Returns to Investment in Education: A Decennial Review of the Global Literature,” written by George Psacharopoulos of Georgetown University and Harry Anthony Patrinos, corresponding author, World Bank, is based on a database of 1,120 estimates in 139 countries.
Key findings from the review include the fact that women continue to experience higher average rates of return to schooling, showing that girls’ education remains a priority. Also, returns are higher in low-income countries. Access the full report here.
In October, Harry Patrinos, along with Luis Crouch of RTI International, spoke at an event titled “New Evidence on the Impacts of Reading & Literacy: A Discussion with the Members of the Global Reading Network Community of Practice.” The event was organized by Reading within Reach (REACH) in Chevy Chase, Maryland, and the discussion was moderated by Jean-Marc Bernard of the Global Partnership for Education. Presenters examined the evidence on public and private returns to increasing investments in literacy skills, including productivity and growth benefits to business and the economy. To access a video of this event and the presentation materials, visit this page on the Global Reading Network’s website.