INTEC teachers and economist receive award for best paper in international congress
Boanerges Domínguez, coordinator of the master's degree in Statistics Applied to Business, in the Area of Economics and Business, was recognized during the 5 Conference of the Academy of Business and Emerging Markets
SANTO DOMINGO. - The teacher Boanerges Domínguez, coordinator from Master in Applied Business Statistics of Instituto Tecnológico de Santo Domingo (INTEC), presented the paper "Return to Education in the Dominican Republic, 2010-2016: Endogeneity and Sample Selection Bias", during the 5ta Conference of the Academy of Business and Emerging Markets held in Costa Rica at the beginning of August.
That research work carried out by Domínguez, together with the professor Carmen García, Central Bank sampleand Evaluate Gomez, Economist of the Ministry of Economy, Planning and Development, he got the “Best Paper Award” of the conference, so it will be published in the 2020-2021 edition of the Journal of Academy of Business and Emerging Markets (JABEM), as well as in the World Scientific Publisher, Singapore (WSPS)
The study conducted by Domínguez, García and Gómez addresses the profitability of education in the Dominican Republic, taking into account the two main difficulties facing the measurement of educational performance: the econometric problem of the endogeneity of the educational variable and the bias in the Sample selection. In it, empirical evidence is shown that proves the main hypothesis: these problems alter the results of the profitability of education, and specifically in the Dominican Republic, this alteration corresponds to a downward bias.
According to their findings, for the year 2010 the return rate in the classic model was 7.30 percent, while with the method of instrumental variables the return amounted to 9.12 percent. On the other hand, if an individual completes the primary level receives a return of 27.81 percent, 24.72 percentage points more than if he had not completed the level. At the secondary level, the person who completes the studies receives a return 43.38 percent greater than the one who did not complete it. The greatest return is obtained by those who acquire higher education.