Analysis of the market for Doctor of Philosophy (PhD) and economic returns in Cameroon: An archetypical African economy

Abstract

This study examines the extent to which the market for PhDs in the sciences can impact economic returns in Cameroon. The specific objectives address the demand and supply for PhDs and the challenges encountered by these PhDs in the labour market. An ordinal regression model is used to assess the effect of the demand and supply of PhD on economic returnsin Cameroon. The findings reveal a direct and significant relationship between the market for PhDs and economic benefits with respect to years of schooling, experience, sector of employment, abilities of PhD holders and the number of PhD holders in the study area. There is also evidence that the demand for PhDs is high in academia than in industries. Indeed, most PhDs find careers in academia than in the industry due to a mismatch of skills between the demand for skills in industry and the supply of skills by higher education institutions. We propose some recommendations on how to improve the market for PhDs in Cameroon and similar African economies.