Garcia Moreno, VicentePatrinos, Harry Anthony2020-01-232020-01-232020-01https://hdl.handle.net/10986/33231This paper estimates private and social returns to investment in education in Azerbaijan, using the 2015 Azerbaijan Monitoring Survey for Social Welfare. The private rate of return to education is 6 percent; this is the first estimate of returns to schooling in Azerbaijan since 1995. The returns to schooling are 6 percent for men and 8 percent for women, even controlling for selection. In addition, the paper estimates the returns for higher education; for this level, the rate of return is 9 percent. Finally, using the full discount method, the private rate of return to tertiary education is 9 percent, and the social rate of return is 8 percent. One policy implication is to re-examine the funding of higher education and for its expansion.CC BY 3.0 IGOEDUCATIONRETURNS TO EDUCATIONEDUCATION INVESTMENTTERTIARY EDUCATIONWorking PaperWorld Bank10.1596/1813-9450-9117