This study adds new evidence to the debate on the relative benefits of upper secondary vocational education and of general education at the same level. Using a probit model, the study finds that an individual from a well-to-do family is more likely to undertake vocational education. After correcting for possible self-selection, the study also finds vocational education to give higher earnings returns than general education does. These findings call into question the belief that vocational education has been overvalued and that providing general education to the workforce followed by on-thejob training would provide more benefits. Indeed, the study suggests that an investment to improve the access to vocational education might prove more beneficial.

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Keywords Rate of return, School choice
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Journal Economics of Education Review
Moenjak, T. (Thammarak), & Worswick, C. (2003). Vocational education in Thailand: A study of choice and returns. Economics of Education Review, 22(1), 99–107. doi:10.1016/S0272-7757(01)00059-0