<?xml version='1.0' encoding='utf-8'?>
<article xmlns:ali="http://www.niso.org/schemas/ali/1.0/" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" article-type="research-article" dtd-version="1.2" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">kaspy</journal-id><journal-title-group><journal-title xml:lang="ru">THE CASPIAN REGION: politics, economics, culture</journal-title></journal-title-group><issn publication-format="electronic" /><issn publication-format="print">1818-510X</issn><publisher><publisher-name xml:lang="ru">Астраханский государственный университет им. В. Н. Татищева</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="publisher-id">127</article-id><title-group xml:lang="ru"><article-title>The marginal rate of returns of investments in human capital and public policy</article-title></title-group><title-group xml:lang="en"><article-title>The marginal rate of returns of investments in human capital and public policy</article-title></title-group><contrib-group><contrib contrib-type="author"><name-alternatives><name xml:lang="ru"><surname>Zak</surname><given-names>Tatiana V.</given-names></name><name xml:lang="en"><surname>Zak</surname><given-names>Tatiana V.</given-names></name></name-alternatives><email>zak@aspu.ru</email><xref ref-type="aff" rid="aff171" /></contrib></contrib-group><aff-alternatives id="aff171"><aff><institution xml:lang="ru">Astrakhan State University</institution></aff><aff><institution xml:lang="en">Astrakhan State University</institution></aff></aff-alternatives><pub-date date-type="pub"><year>2013</year></pub-date><issue>2</issue><fpage>97</fpage><lpage>102</lpage><history /><self-uri xlink:href="https://kaspy.asu-edu.ru/en/archive/2013/issue/2/article/127">https://kaspy.asu-edu.ru/en/archive/2013/issue/2/article/127</self-uri><self-uri xlink:href="https://kaspy.asu-edu.ru/storage/kaspy/archive/2(35)/97-102.pdf" content-type="pdf">https://kaspy.asu-edu.ru/storage/kaspy/archive/2(35)/97-102.pdf</self-uri><abstract xml:lang="ru"><p>The article is devoted to the main trends of the rate of profitability of investment in higher education. The main directions of the use of the indexes of the rate of marginal profitability in forming public educational policy are identified by the author. The author justifies the statement that the direct focus of public structures on these indexes leads to the distortions of incentives of private investors, the substitution of private resources by public resources, inefficient using public and private investments</p></abstract><abstract xml:lang="en"><p>The article is devoted to the main trends of the rate of profitability of investment in higher education. The main directions of the use of the indexes of the rate of marginal profitability in forming public educational policy are identified by the author. The author justifies the statement that the direct focus of public structures on these indexes leads to the distortions of incentives of private investors, the substitution of private resources by public resources, inefficient using public and private investments</p></abstract><kwd-group xml:lang="ru"><kwd>marginal rate of returns</kwd><kwd>public policy</kwd><kwd>private and social rate of returns</kwd><kwd>earnings premiums from education</kwd><kwd>educational externalities</kwd></kwd-group><kwd-group xml:lang="en"><kwd>marginal rate of returns</kwd><kwd>public policy</kwd><kwd>private and social rate of returns</kwd><kwd>earnings premiums from education</kwd><kwd>educational externalities</kwd></kwd-group><funding-group xml:lang="ru"><funding-statement /></funding-group><funding-group xml:lang="en"><funding-statement /></funding-group></article-meta></front><body /><back><ref-list /></back></article>