FERNANDEZ DOMINGUEZ, Amílcar Orlian; GOMEZ HERNANDEZ, Denise    BANDA ORTIZ, Humberto. Returns to education in Mexico in the face of the financial crisis of 2008. An analysis from portfolio theory. []. , 30, 54, pp.65-90. ISSN 0120-3592.  https://doi.org/10.11144/javeriana.cao30-54.remcf.

This paper uses financial analysis methods -portfolio theory- to examine structural changes between 2005 and 2016 in the investment returns to undergraduate education in Mexico, considering the risk faced by households. Econometric analysis results show that before the financial crisis diversification was optimum (not sending all members to pursue undergraduate level studies) given the average risk level faced by households. However, after the financial crisis, the difference in income or expected utilities between diversified and some non-diversified households was reduced, causing decisions to invest in undergraduate education more dependent on risk than on the return of that investment.

: returns to education; portfolio theory; financial crisis.

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