Offering a unifying theoretical perspective not readily available in any other text, this innovative guide to econometrics uses simple geometrical arguments to develop students' intuitive understanding of basic and advanced topics, emphasizing throughout the practical applications of modern theory and nonlinear techniques of estimation. One theme of the text is the use of artificial regressions for estimation, reference, and specification testing of nonlinear models, including diagnostic tests for parameter constancy, serial correlation, heteroscedasticity, and other types of mis-specification. Explaining how estimates can be obtained and tests can be carried out, the authors go beyond a mere algebraic description to one that can be easily translated into the commands of a standard econometric software package. Covering an unprecedented range of problems with a consistent emphasis on those that arise in applied work, this accessible and coherent guide to the most vital topics in econometrics today is indispensable for advanced students of econometrics and students of statistics interested in regression and related topics. It will also suit practising econometricians who want to update their skills. Flexibly designed to accommodate a variety of course levels, it offers both complete coverage of the basic material and separate chapters on areas of specialized interest.

Estimation and Inference in Econometrics

Returns to investment in education based on human capital theory have been estimated since the late 1950s. In the 40-plus year history of estimates of returns to investment in education, there have been several reviews of the empirical results in attempts to establish patterns. Many more estimates from a wide variety of countries, including over time evidence, and estimates based on new econometric techniques, reaffirm the importance of human capital theory. Psacharopoulos and Patrinos review and present the latest estimates and patterns as found in the literature at the turn of the century. However, because the availability of rate of return estimates has grown exponentially, the authors include a new section on the need for selectivity in comparing returns to investment in education and establishing related patterns. This paper - a product of the Education Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the region to document the benefits of investments in education.

https://papers.ssrn.com/sol3/Delivery.cfm/2881.pdf?abstractid=1273483

Returns to Investment in Education: A Further Update

Returns to investment in education based on human capital theory have been estimated since the late 1950s. In the 40-plus year history of estimates of returns to investment in education, there have been several reviews of the empirical results in attempts to establish patterns. Many more estimates from a wide variety of countries, including over time evidence, and estimates based on new econometric techniques, reaffirm the importance of human capital theory. The suthors review and present the latest estimates and patterns as found in the literature at the turn of the century. However, because the availability of rate of return estimates has grown exponentially, the authors include a new section on the need for selectivity in comparing returns to investment in education and establishing related patterns.

/pdf/returns-to-investment-in-education-a-further-update-2wkgtqwum8.pdf

Returns to investment in education: a further update

The objective of this paper is to determine the ability of farmers in Africa to detect climate change, and to ascertain how they have adapted to whatever climate change they believe has occurred. The paper also asks farmers whether they perceive any barriers to adaptation and attempts to determine the characteristics of those farmers who, despite claiming to have witnessed climate change, have not yet responded to it. The study is based on a large-scale survey of agriculturalists in 11 African countries. The survey reveals that significant numbers of farmers believe that temperatures have already increased and that precipitation has declined. Those with the greatest experience of farming are more likely to notice climate change. Further, neighboring farmers tell a consistent story. There are important differences in the propensity of farmers living in different locations to adapt and there may be institutional impediments to adaptation in some countries. Although large numbers of farmers perceive no barriers to adaptation, those that do perceive them tend to cite their poverty and inability to borrow. Few if any farmers mentioned lack of appropriate seed, security of tenure, or market accessibility as problems. Those farmers who perceive climate change but fail to respond may require particular incentives or assistance to do what is ultimately in their own best interests. Although experienced farmers are more likely to perceive climate change, it is educated farmers who are more likely to respond by making at least one adaptation.

/pdf/the-perception-of-and-adaptation-to-climate-change-in-africa-7ud1nj8572.pdf

The perception of and adaptation to climate change in Africa

統計年鑑 = Statistical yearbook

The impact of education on farmers' attitudes toward endogenous risk (measured using an attitude survey instrument) is estimated with household data from rural Ethiopia. Education of the household head is found to decrease risk-aversion. Next, the effects of education and risk attitudes on technology adoption are estimated. Schooling encourages farmers to adopt innovations, whereas risk-aversion reduces the probability of adoption. Thus, we find that schooling encourages innovation, a potentially risky undertaking, not only directly but also indirectly, through its effect upon attitudes toward risk. To the extent that educated farmers are early innovators and are copied by those with less schooling (as other research on the same data has shown), the reduction of riskaversion not only has private benefits for those with education but also may have externality benefits.

The role of education in facilitating risk-taking and innovation in agriculture

The Ethiopian education system is characterised by extremely low participation rates, particularly in rural areas. This paper challenges the hypothesis that demand for schooling in rural Ethiopia is constrained by the traditional nature of farm technology and lack of visible benefits of schooling in terms of farmer productivity. The effects of schooling upon farmer productivity and efficiency are examined employing both average production functions and two-stage stochastic frontier production functions. Data drawn from a large household survey conducted in 1994 were used to estimate internal and external benefits of schooling in 14 cereal- producing villages. Empirical analyses reveal substantial internal (private) benefits of schooling for farmer productivity, particularly in terms of efficiency gains. However, a threshold effect is identified: at least four years of primary schooling are required to have a significant effect upon farm productivity. Evidence of strong external (social) benefits of schooling was also uncovered, suggesting that there may be considerable opportunities to take advantage of external benefits of schooling in terms of increased farm productivity if school enrolments in rural areas are increased. Acknowledgements The UK Department for International Development (DFID) supports policies, programmes and projects to promote international development. DFID provided funds for this study as part of that objective but the views and opinions expressed are those of the author alone. The author is indebted to John Knight for supervision of this work. Andre Croppenstedt generously provided his set of farm variables and advice on frontier estimation. Useful comments on drafts of this paper were contributed by Simon Appleton and participants at two CSAE seminars. Any errors are the author's responsibility.

The Effects of Education on Farmer Productivity in Rural Ethiopia

This article investigates the role of schooling at the household and community levels in the adoption and diffusion of agricultural innovations in rural Ethiopia. We find that household‐level education is important to the timing of adoption but less crucial to the question of whether a household has ever adopted fertilizer (since those without schooling may eventually copy the educated). Community‐level education substitutes for low levels of household education, encouraging uneducated farmers to adopt sooner than would be predicted in the absence of educated neighbors. Moreover, community‐level education is complementary to household education in determining which farmers will eventually adopt. Thus, evidence is presented to suggest that there are two externality effects: educated farmers are early innovators, providing an example that may be copied by less‐educated farmers; and educated farmers are better able to copy those who innovate first, enhancing diffusion of the new technology more wide...

https://www.jstor.org/stable/10.1086/423254

Externality Effects of Education: Dynamics of the Adoption and Diffusion of an Innovation in Rural Ethiopia

Schooling has been shown to provide substantial externality benefits by increasing farm output and shifting the production frontier outwards. This paper investigates the role of schooling at the household- and site-levels in the adoption and diffusion of agricultural innovations in rural Ethiopia. We find that household-level education is important to the timing of adoption but less crucial to the question of whether a household has ever adopted fertiliser, i.e., early innovators tend to be educated and to be copied by those who adopt later, obscuring the relationship between education and adoption at the household-level. By contrast, site-level education appears not to affect the timing of an innovation’s introduction to the site, but does influence the extent of diffusion. Thus, there are two externality effects: educated farmers are early innovators, providing an example which may be copied by lesseducated farmers; and educated farmers are better able to copy those who innovate first, enhancing diffusion of the new technology more widely within the site.

Adoption and Diffusion of Agricultural Innovations in Ethiopia: The Role of Education

Education will have externality effects in agriculture if, in the course of conducting their own private economic activities, educated farmers raise the productivity of uneducated farmers with whom they come into contact. This paper seeks to determine the potential size and source of such benefits for rural areas of Ethiopia. Average and stochastic frontier production function methodologies are employed to measure productivity and efficiency of farmers. In each case, internal and external returns to schooling are compared. We find that there are substantial and significant externality benefits of education in terms of higher average farm output and a shifting outwards of the production frontier. External benefits of schooling may be several times as high as internal benefits in this regard. However, we are unable to find any evidence of externality benefits to schooling in terms of improvements in technological efficiency in the use of a given technology. This suggests that the source of externalities to schooling is in the adoption and spread of innovations, which shift out the production frontier.

Education externalities in rural Ethiopia: evidence from average and stochastic frontier production functions

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