Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 1077-1088 |
| Number of pages | 12 |
| Journal | Regional Studies |
| Volume | 51 |
| Issue number | 7 |
| Early online date | 11 Jul 2016 |
| DOIs | |
| Publication status | Published - 31 Jul 2017 |
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Keywords
- supply-side impact
- higher education institutions
- computable general equilibrium model
- social and external benefits
Cite this
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The external benefits of higher education. / Hermannsson, Kristinn; Lisenkova, Katerina; Lecca, Patrizio; McGregor, Peter G; Swales, J Kim.
In: Regional Studies, Vol. 51, No. 7, 31.07.2017, p. 1077-1088.Research output: Contribution to journal › Article
TY - JOUR
T1 - The external benefits of higher education
AU - Hermannsson, Kristinn
AU - Lisenkova, Katerina
AU - Lecca, Patrizio
AU - McGregor, Peter G
AU - Swales, J Kim
PY - 2017/7/31
Y1 - 2017/7/31
N2 - The private market benefits of education are widely studied at the micro level, although the magnitude of their macroeconomic impact is disputed. However, there are additional benefits of education, which are less well understood. In this paper the macroeconomic effects of external benefits of higher education are estimated using the "micro-to-macro" simulation approach. Two types of externalities are explored: technology spillovers and productivity spillovers in the labour market. These links are illustrated and the results suggest they could be very large. However, this is qualified by the dearth of microeconomic evidence, for which we hope to encourage further work.
AB - The private market benefits of education are widely studied at the micro level, although the magnitude of their macroeconomic impact is disputed. However, there are additional benefits of education, which are less well understood. In this paper the macroeconomic effects of external benefits of higher education are estimated using the "micro-to-macro" simulation approach. Two types of externalities are explored: technology spillovers and productivity spillovers in the labour market. These links are illustrated and the results suggest they could be very large. However, this is qualified by the dearth of microeconomic evidence, for which we hope to encourage further work.
KW - supply-side impact
KW - higher education institutions
KW - computable general equilibrium model
KW - social and external benefits
UR - http://www.tandfonline.com/loi/cres
U2 - 10.1080/00343404.2016.1172062
DO - 10.1080/00343404.2016.1172062
M3 - Article
VL - 51
SP - 1077
EP - 1088
JO - Regional Studies
JF - Regional Studies
SN - 0034-3404
IS - 7
ER -