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The Policy Determinants of Investment in Tertiary Education

Author

Listed:
  • Joaquim Oliveira Martins
  • Romina Boarini
  • Hubert Strauss
  • Christine de la Maisonneuve
  • Clarice Saadi

Abstract

This paper assesses how policies and institutions affect private returns to invest in tertiary human capital, the ability of individuals to finance this investment and the institutional characteristics of tertiary education systems. Focusing on core tertiary education services, the paper presents new measures of private returns to tertiary education, the institutional setting for supplying tertiary education and the availability of individual financing in OECD countries. Using a panel of 19 countries, the number of new tertiary graduates (a proxy for investment in tertiary education) is regressed on these new proposed measures, as well as other standard determinants of investment in tertiary education. The resulting estimates are used to assess empirically the relative importance of several education, taxation and social policies affecting investment in tertiary education. Several avenues for reform and the trade-offs they present for public policy are discussed. L'impact des politiques économiques sur l'investissement en éducation supérieure Cette étude examine comment les politiques économiques et les institutions affectent le rendement privé de l’éducation supérieure, la possibilité pour les individus de financer cet investissement et les caractéristiques institutionnelles de l’offre d’enseignement supérieur. Se concentrant sur les services de l’éducation supérieure proprement dite, l’étude présente des nouvelles mesures des rendements privés de l’éducation supérieure, le contexte institutionnel de l’offre d’enseignement supérieur et la disponibilité de financement individuel pour les pays de l’OCDE. Utilisant un panel sur 19 pays, le nombre harmonisé de nouveaux diplômés (une approximation de l’investissement dans l’enseignement supérieur) est régressé sur ces nouvelles mesures ainsi que sur d’autres déterminants standards de l’investissement en éducation supérieure. Les estimations qui en résultent sont utilisées pour évaluer empiriquement l’importance relative des différentes politiques ayant trait à l’éducation, à la fiscalité ou dans le domaine social et ayant un impact sur l’investissement en enseignement supérieur. Plusieurs options de réforme et les arbitrages qu’elles représentent pour la politique économique sont discutées.

Suggested Citation

  • Joaquim Oliveira Martins & Romina Boarini & Hubert Strauss & Christine de la Maisonneuve & Clarice Saadi, 2007. "The Policy Determinants of Investment in Tertiary Education," OECD Economics Department Working Papers 576, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:576-en
    DOI: 10.1787/085530578031
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    Cited by:

    1. Berger, Johannes & Graf, Nikolaus & Schuh, Ulrich & Strohner, Ludwig, 2015. "Die Entwicklung der Abgabenbelastung von Einkommen im Zeitverlauf," Research Papers 3, EcoAustria – Institute for Economic Research.
    2. Lucas Chancel, 2019. "Ten facts about income inequality in advanced economies," World Inequality Lab Working Papers hal-02876982, HAL.
    3. Égert, Balázs & Botev, Jarmila & Turner, David, 2020. "The contribution of human capital and its policies to per capita income in Europe and the OECD," European Economic Review, Elsevier, vol. 129(C).
    4. Sebastian Barnes & Romain Bouis & Philippe Briard & Sean Dougherty & Mehmet Eris, 2013. "The GDP Impact of Reform: A Simple Simulation Framework," OECD Economics Department Working Papers 834, OECD Publishing.
    5. Tatjana Slavova, 2008. "A rank order and efficiency evaluation of the EU regions in a social framework," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 35(4), pages 339-367, September.
    6. Annette Alstadsæter & Hans Henrik Sievertsen, 2009. "The Consumption Value of Higher Education," CESifo Working Paper Series 2871, CESifo.
    7. Coe, David T. & Helpman, Elhanan & Hoffmaister, Alexander W., 2009. "International R&D spillovers and institutions," European Economic Review, Elsevier, vol. 53(7), pages 723-741, October.
    8. Åsa Johansson, 2016. "Public Finance, Economic Growth and Inequality: A Survey of the Evidence," OECD Economics Department Working Papers 1346, OECD Publishing.
    9. Felicity C Barker & Robert A Buckle & Robert W St Clair, 2008. "Roles of Fiscal Policy in New Zealand," Treasury Working Paper Series 08/02, New Zealand Treasury.
    10. Malte Dold & Tim Krieger, 2019. "The “New” Crisis of the Liberal Order: Populism, Socioeconomic Imbalances, and the Response of Contemporary Ordoliberalism," Journal of Contextual Economics (JCE) – Schmollers Jahrbuch, Duncker & Humblot, Berlin, vol. 139(2–4), pages 243-258.
    11. Józef Dziechciarz, 2015. "Measurement of Rate of Return in Education. Research Directions," Proceedings of FIKUSZ 2015, in: Jolán Velencei (ed.),Proceedings of FIKUSZ '15, pages 39-56, Óbuda University, Keleti Faculty of Business and Management.
    12. Moris Triventi, 2014. "Higher education regimes: an empirical classification of higher education systems and its relationship with student accessibility," Quality & Quantity: International Journal of Methodology, Springer, vol. 48(3), pages 1685-1703, May.
    13. Eckhard Wurzel, 2009. "Financial policy: a stronger result-orientation needed," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 62(18), pages 38-42, September.
    14. Margit Schratzenstaller & Fanny Dellinger, 2017. "Genderdifferenzierte Lenkungswirkungen des Abgabensystems," WIFO Studies, WIFO, number 60797, April.
    15. Robert P. Hagemann, 2012. "Fiscal Consolidation: Part 6. What Are the Best Policy Instruments for Fiscal Consolidation?," OECD Economics Department Working Papers 937, OECD Publishing.
    16. Lucia Rizzica, 2013. "Home or away? Gender differences in the effects of an expansion of tertiary education supply," Questioni di Economia e Finanza (Occasional Papers) 181, Bank of Italy, Economic Research and International Relations Area.
    17. Lehouelleur, Sophie & Beblav�, Miroslav & Maselli,Ilaria, 2015. "How returns from tertiary education differ by field of study: Implications for policy-makers and students," CEPS Papers 10835, Centre for European Policy Studies.
    18. Johannes Pöschl & Neil Foster-McGregor & Robert Stehrer, 2016. "International R&D Spillovers and Business Service Innovation," The World Economy, Wiley Blackwell, vol. 39(12), pages 2025-2045, December.

    More about this item

    Keywords

    Financement individuel pour les étudiants et fiscalité; Investissement en éducation supérieure; investment in tertiary education; Offre d’éducation supérieure; Rendements de l’éducation; returns to education; student individual financing systems and taxation; Supply of tertiary education;
    All these keywords.

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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