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Implications of Educational Attainment on EconomicWelfare in Cameroon
Ofeh Evina Anchi & Fuein Vera Kum
IJED, Vol. 17 No. 1,
28-45 (2024)
In developing countries and Cameroon in particular, more and more people are willing to lay aside their comfort while using the limited means available just to achieve a higher level in education. In the context of an increasingly more knowledge economy based, education becomes the means of ensuring the welfare of a nation. This study investigates the effect of educational attainment on economic welfare in Cameroon, while considering aspects of gender, location and sector of activity. Using household survey data from the fourth Cameroon household survey, an index for economic welfare was built and we proceeded with linear regression (OLS) to estimate the result. The results confirm a positive significant and relatively high expectation of increased economic welfare as households move from primary through secondary to higher education. While the female headed households contributed more to economic welfare at higher levels of education, economic welfare is prone to increase more in an urban area as households attained a higher level. This is observed in their significant p-values and coefficients of 0.469, 0.952 and 1.641 respectively. The informal sector seems more appealing for increased economic welfare though not progressive with attainment. The formal sector is significant when other variables are associated to it. Thus in effect, higher education should be promoted more equitably for all and in all areas so as to improve equity in attainment and ensure progress in the economic welfare for households in Cameroon.
