THEORETICAL AND EMPIRICAL APPROCHES IN MEASURING RETURNS ON INVESTMENTS IN EDUCATION

Continuous investment in education is a key factor in economic growth and development. Investing in education is an investment with a returns on investment and with multiple positive effects at the private and social levels. Earnings in the labor market represent private returns on investment in education and their measurement is in the center of the scientific literature. The main objective of this paper is to analyze modern theoretical and methodological approaches to measuring returns on investment in education, while analyzing the measurement methodology, indicators used and data sources. The scientific contribution of this paper is based on a concise and critical review of the scientific literature and trends in this field, with reference to the methodology used and indicators in measuring returns on investment in education.