Education, Employment and Earnings of Secondary School-Leavers ...

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Table 5 (cont’d)Selection CorrectionTerm∧-0.448**(0.199)-0.455**(0.203)-0.467**(0.209)-0.483**(0.200)1.055 1.047 1.042 0.997σPseudo-R 2 0.032 0.032 0.034 0.052RESET ~ χ 2 15.878*** 8.535** 6.479* 4.1323(0.001) (0.036) (0.090)Homoscedasticity ~ 20.803**χ 2 (0.035)kNormality~ χ 2 24.780*(0.092)21.956**(0.038)6.448**(0.040)23.137*(0.058)5.511*(0.063)(0.248)41.529**(0.010)13.479***(0.001)Observations 214 214 214 214Notes to table 5:(a) The earnings measure relates to self-employed earnings received in the last six months.(b) The lower and upper bounds used in estimation expressed in Tanzanian shillings (000s) are [-∞,100],[100,150],[150,200],[200,250], [250,300], [300,350],[350,400],[400,500],[500,800],[800,+∞]. The naturallogarithms of the finite interval boundaries were used in specifying the model’s likelihood function.(c) The reported estimates are based on the maximum likelihood procedure. The estimated standard errorsreported in parentheses are based on the Huber (1967) adjustment.(d) ***,** and * denote statistical significance at the 1%, 5% and 10% level respectively using two-tailed tests.(e) § denotes not applicable in estimation for given model.(f) For the heteroscedasticity test the degrees of freedom are k and are determined by the number of variables ineach specification.(g) The values in parentheses beneath the diagnostic test values are the significance levels of the tests.39
Notes to table 6:(a) See expression [8] in the text for a description of the calculations.(b) ***,** and * denote statistical significance at the 1%, 5% and 10% level respectively using two-tailed tests.Table 6: Deviations from Average – School EffectsSchool WageEmployeesSelf-EmployedSchool_1 -0.071(0.157)-0.201(0.189)School_2 0.467***(0.113)0.479***(0.238)School_3 0.141(0.114)0.104(0.420)School_4 0.122(0.105)0.656(0.516)School_5 -0.481***(0.122)-0.727***(0.227)School_6 -0.167(0.130)0.019(0.282)School_7 -0.084(0.145)-0.224(0.199)School_8 -0.022(0.138)0.273(0.261)School_9 -0.034(0.094)0.138(0.178)School_10 -0.024(0.098)-0.106(0.329)Table 7: Rates of Return to Educational Qualifications (%)Qualification WageEmployeesSelf-EmployedSeniorSecondary8.9*(4.6)4.8(10.6)University 16.7***(5.2)20.8(14.9)Notes to table 7:(a) The estimates used for this table are based on specification (4) for both models as reported in tables 4 and 5.(b) See expressions [9] and [10] in the text for the computational details. The estimated effects are exponentiated andthe corresponding standard errors are computed using the delta method.(c) ***,** and * denote statistical significance at the 1%, 5% and 10% level respectively using two-tailed tests.40
Page 1 and 2: Education, Employment and Earnings
Page 3 and 4: The structure of the paper can now
Page 5 and 6: Despite large absolute increases in
Page 7 and 8: nine studies reviewed for sub-Sahar
Page 9 and 10: It should be noted, however, that e
Page 11 and 12: history, current activity and incom
Page 13 and 14: In order to understand how the mode
Page 16 and 17: freedom for this test. In regard to
Page 18 and 19: where φ(·) denotes the probabilit
Page 20 and 21: 5.1 Earnings Equation - The Employe
Page 22 and 23: 4.8% per annum in the first three s
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Page 30 and 31: 6. ConclusionsA key finding of our
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Page 34 and 35: Knight, J.B. and Sabot, R.H. (1981)
Page 36 and 37: Table 1: Highest level of education
Page 38 and 39: Table 4 (Cont’d)SelectionCorrecti
Page 42 and 43: Table A1: Variable DescriptionVaria

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