Do Markets Favor Women's Human Capital More than Planners?
35 Pages Posted: 15 Nov 2004
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Do Markets Favor Women's Human Capital More than Planners?
Do Markets Favor Women's Human Capital More than Planners?
Date Written: November 2004
Abstract
Using micro data on women in the Czech Republic, we compare returns to various measures of human capital at the end of communism (1989), in mid-transition (1996) and in late/post-transition (2002). We show: dramatic increases in returns to education from 1989 to 1996 but no change from 1996 to 2002; no differences in returns to education by state vs. privately-owned firms; "sheepskin" effects in both regimes, which rise over time and are similar across firm ownership; no difference in returns to education obtained during communism vs. transition; no change in wage-experience profiles over time; and similar increases in returns to education for women and men. In sum, markets pay women and men equally more for their human capital than the planners did; all the adjustment occurred in early transition and was driven by market forces rather than private ownership.
Keywords: human capital, wages, transition, sheepskin effects, Czech Republic
JEL Classification: J24, J31, P20, P31
Suggested Citation: Suggested Citation
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