The economics of education in China
An education revolution is sweeping through China. New students are pouring into secondary schools and universities at a phenomenal rate. The consequences for China’s economic growth will be enormous, and mostly positive.
The increase in schooling reflects not just a greater supply of school places provided by the state, but strong demand from families for education. This demand stems from the fact that the economic value of schooling in the country has risen rapidly.
In the late 1980s, the financial return on primary education for Chinese families
