Efficiency and Equity in Hong Kong Education

Ying Chu Ng, George Psacharopoulos

    Research output: Contribution to journalJournal articlepeer-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
    Number of pages23
    JournalJournal of Educational Planning and Administration
    Issue number4
    Publication statusPublished - Oct 2020


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