教育收益率的变动趋势及其MSD解释

Trends in the Rates of Return to Education and the Explanation Based on MSD

In recent years， scholars have conducted a number of studies on the trends in the rates of return to education in urban China， although the trends’ explanations have always been lacking systematic and convincing theoretical analysis and empirical research. Among the international literatures， it is helpful to adopt the framework of “Supply-Demand-Institutions” (SDI) to understand the trends in the rates of return to education in one economy. However» the SDI framework which lacks rigorous justification of the appropriateness in different economies，exploring the effects of w supply-demand，J and institutions separately， has failed in the case of urban China. Therefore， this study puts forward a framework of “Marketization: Supply-Demand ( MSD )， which explores the interactive influence between marketization and supply-demand factors， along with the effect of Hsupply-demand” changes on the rates of return to education. Furthermore，this analysis verified the appropriateness in adopting MSD to explain trends in multiple economies.