Comparing the payoff to vocational and academic credentials in Thailand over time

Abstract

Using data from Thailand’s National Labor Force Survey, this paper analyzes the long-run earnings differentials for vocational and academic schooling at the secondary and post-secondary levels. The results show that vocational schooling offers consistently higher returns for men and women at the secondary and post-secondary levels. However, the returns to vocational and academic credentials vary substantially, both by gender and year. The primary conclusion that vocational schooling offers a higher private rate of return should be tempered by the understanding of the long-run decline in value of some vocational credentials and the potential growing importance of all post-secondary degrees.