Efficiency and Equity in Hong Kong Education

Ying Chu NG, George Psacharopoulos

Research output: Contribution to journalArticlepeer-review


We use new estimates of private and social returns to investment in education in
Hong Kong, in order to address the efficiency and equity of the higher education
system. Investment in education is highly profitable to the individual, and the
social returns far exceed any alternative discount rate. Public subsidisation of
higher education contributes to the near world record of income inequality in the
economy. The higher education expansion has not been associated with an
appreciable decline of the returns to education, and the evidence does not support
the existence of screening over education.
Original languageEnglish
Pages (from-to)245-267
JournalJournal of Educational Planning and Administration
Issue number4
Publication statusPublished - Oct 2020


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