The Returns from Training in Colombia: Evidence from a Longitudinal Survey
Borradores de Economía; No.1048
Date published
2018-08-22Date of last update
2018-08-22Document language
engMetadata
Show full item recordMetrics
Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva. The opinions contained in this document are the sole responsibility of the author and do not commit Banco de la República or its Board of Directors.
Summary
Este documento explora los retornos de la capacitación para el trabajo en Colombia usando los datos de la Encuesta Longitudinal de Fedesarrollo entre 2009 y 2010. Los datos panel nos permite controlar por la heterogeneidad no observada de los individuos, que no cambia en el tiempo. Para controlar por el sesgo de selección, utilizamos la metodología de corrección propuesta en Wooldridge (1995). Los resultados sugieren que los retornos a la capacitación para el trabajo son positivos y significativos, entre el 7% y 9%. Adicionalmente, los resultados indican que la mayor capacitación incrementa la probabilidad de continuar empleado, sugiriendo una mejora en las condiciones laborales de los individuos.
Abstract
In this paper we explore the wage returns from training in Colombia, using data from the “The Social Longitudinal Survey” between 2009 and 2010. Using the longitudinal component of the data, we control for time invariant individuals’ unobserved heterogeneity and, following Wooldridge (1995), we correct for sample selection in panel data. Our results suggest that there is a positive return from training. The magnitude of the estimates suggests an increase in wages between 7% and 9%. We find that OLS overestimate the effects of receiving training. This suggests that individuals who receive training are the ones with high unobserved skills. We also find that trainees increase their probability of being continuously employed, suggesting an improvement in individuals’ working conditions.
JEL Codes
C23 - Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal ModelsI26 - Returns to EducationJ31 - Wage Level and Structure; Wage DifferentialsP36 - Socialist Institutions and Their Transitions: Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty
Subject
Keywords
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/9384https://hdl.handle.net/20.500.12134/9384
https://doi.org/10.32468/be.1048
https://ideas.repec.org/p/bdr/borrec/1048.html
Collections
- Borradores de Economía [1163]
This work is licensed under a Creative Commons Reconocimiento-NoComercial 4.0.This document has been deposited by the author (s) under the following certificate of deposit