Parents in Search for Quality Basic Education: Consumption or Investment?

DOI: 10.5176/2251-2012_QQE15.36

Authors: Victorina H. Zosa and Anthony R. Zosa

Abstract:

Post-2015 development agenda is expected to expand universal access to primary education to include access to quality education for primary, secondary and selected tertiary students. This paper defines the indicators of quality basic education, using multiple correspondence analysis. Prior to this, a log-linear demand model is specified to determine the economic factors behind the parental choice for quality basic education. The non-economic factors are incorporated using a logistic regression model. The indicators for quality basic education are defined, using multiple correspondence analysis. Data are obtained from interviews of high-income parents from the least developed regions in southern Philippines. Age, income and education of parents are important determinants in the decision of parents to enroll in private schools. Logistic regression results show that the parental choice of the best primary and secondary schools for their children include both consumption and investment considerations.

Keywords: parental choice, quality basic education, rate of private return, consumption value of education, investment in human capitale