Restrição ao crédito educacional e investimentos em capital humano no Brasil: evidências através dos retornos à educação

• Autor(a) principal: Oliva, Bruno Teodoro
• Data de Publicação: 2008
• Tipo de documento: Dissertação
• Idioma: por
• Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
• Texto Completo: http://hdl.handle.net/10438/1804
• topic: Retorno à educação; Variáveis instrumentais; Restrição ao crédito educacional; Economia; Capital humano; Crédito educativo - Brasil; Investimentos na educação - Brasil; Educação - Financiamento - Brasil; Educação - Aspectos econômicos - Brasil

This paper aims to gauge the role of credit constraint on education in Brazil. For this purpose, we use the hypothesis that direct costs and opportunity costs of schooling affect credit constrained and unconstrained persons differently. While the opportunity costs affect everyone similarly, the direct costs affect more the credit constrained individuals. Using different instrumental variables to estimate the returns to education one can measure the role of credit constraint on education decisions. These impacts can be observed when different instruments are used, such as relative teachers supply (proxy for direct costs) and median wage of young workers (opportunity costs variable). We find a considerable difference in point estimation returns on education when using different instruments, suggesting the existence of credit constraints affecting the schooling decisions. However, the bad performance of the opportunity cost variable on the second stage turns any interpretation problematic.