Financial liberalisation and educational attainment : evidence from second generation immigrants
The topic of financial liberalisation has been increasingly explored over the past several decades. However, existing studies focus largely on the effects financial liberalisation have on physical capital accumulation. Therefore, this paper seeks to examine the effects of financial liberalisation...
| Main Authors: | , , |
|---|---|
| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2017
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/69748 |
| _version_ | 1826123501996605440 |
|---|---|
| author | Yeo, Adeline Hui Ting Kishore Chandramohgan Lee, Gui Xian |
| author2 | James Ang |
| author_facet | James Ang Yeo, Adeline Hui Ting Kishore Chandramohgan Lee, Gui Xian |
| author_sort | Yeo, Adeline Hui Ting |
| collection | NTU |
| description | The topic of financial liberalisation has been increasingly explored over the
past several decades. However, existing studies focus largely on the effects financial
liberalisation have on physical capital accumulation. Therefore, this paper seeks to
examine the effects of financial liberalisation on human capital, specifically
education, which is another important form of capital accumulation in an economy. In
order to mitigate the problem of reverse causality, we will be looking at the
intergenerational transmission effect of financial liberalisation on second generations’
education.
In our study, we use individual level education data from the 2008 European
Values Survey and regress it on Abiad and Mody’s (2005) Financial Liberalisation
Index. Our results reveal that the degree of financial liberalisation in parents’ country
of origin is highly significant in determining one’s educational attainment. On
average, an extreme change from 0 to 1 in the index can substantially increase the
respondent’s education level by one level. In addition, we find that indicators of
financial development and financial openness are also highly significant in
determining individual’s educational attainment. These results have important
implications for policy implementation as they reinforce the argument for countries to
become financially liberalised due to the positive effects on human capital
accumulation. |
| first_indexed | 2024-10-01T06:05:43Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/69748 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T06:05:43Z |
| publishDate | 2017 |
| record_format | dspace |
| spelling | ntu-10356/697482019-12-10T11:58:06Z Financial liberalisation and educational attainment : evidence from second generation immigrants Yeo, Adeline Hui Ting Kishore Chandramohgan Lee, Gui Xian James Ang School of Humanities and Social Sciences DRNTU::Humanities The topic of financial liberalisation has been increasingly explored over the past several decades. However, existing studies focus largely on the effects financial liberalisation have on physical capital accumulation. Therefore, this paper seeks to examine the effects of financial liberalisation on human capital, specifically education, which is another important form of capital accumulation in an economy. In order to mitigate the problem of reverse causality, we will be looking at the intergenerational transmission effect of financial liberalisation on second generations’ education. In our study, we use individual level education data from the 2008 European Values Survey and regress it on Abiad and Mody’s (2005) Financial Liberalisation Index. Our results reveal that the degree of financial liberalisation in parents’ country of origin is highly significant in determining one’s educational attainment. On average, an extreme change from 0 to 1 in the index can substantially increase the respondent’s education level by one level. In addition, we find that indicators of financial development and financial openness are also highly significant in determining individual’s educational attainment. These results have important implications for policy implementation as they reinforce the argument for countries to become financially liberalised due to the positive effects on human capital accumulation. Bachelor of Arts 2017-03-25T01:21:52Z 2017-03-25T01:21:52Z 2017 Final Year Project (FYP) http://hdl.handle.net/10356/69748 en Nanyang Technological University 43 p. application/pdf |
| spellingShingle | DRNTU::Humanities Yeo, Adeline Hui Ting Kishore Chandramohgan Lee, Gui Xian Financial liberalisation and educational attainment : evidence from second generation immigrants |
| title | Financial liberalisation and educational attainment : evidence from second generation immigrants |
| title_full | Financial liberalisation and educational attainment : evidence from second generation immigrants |
| title_fullStr | Financial liberalisation and educational attainment : evidence from second generation immigrants |
| title_full_unstemmed | Financial liberalisation and educational attainment : evidence from second generation immigrants |
| title_short | Financial liberalisation and educational attainment : evidence from second generation immigrants |
| title_sort | financial liberalisation and educational attainment evidence from second generation immigrants |
| topic | DRNTU::Humanities |
| url | http://hdl.handle.net/10356/69748 |
| work_keys_str_mv | AT yeoadelinehuiting financialliberalisationandeducationalattainmentevidencefromsecondgenerationimmigrants AT kishorechandramohgan financialliberalisationandeducationalattainmentevidencefromsecondgenerationimmigrants AT leeguixian financialliberalisationandeducationalattainmentevidencefromsecondgenerationimmigrants |