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The external benefits of higher education

Author

Listed:
  • Kristinn Hermannsson
  • Katerina Lisenkova
  • Patrizio Lecca
  • Peter G. McGregor
  • J. Kim Swales

Abstract

The external benefits of higher education. Regional Studies. 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 that 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 the authors hope to encourage further work.

Suggested Citation

  • Kristinn Hermannsson & Katerina Lisenkova & Patrizio Lecca & Peter G. McGregor & J. Kim Swales, 2017. "The external benefits of higher education," Regional Studies, Taylor & Francis Journals, vol. 51(7), pages 1077-1088, July.
    • Handle: RePEc:taf:regstd:v:51:y:2017:i:7:p:1077-1088
    DOI: 10.1080/00343404.2016.1172062
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    References listed on IDEAS

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    1. Layard, Richard & Nickell, Stephen & Jackman, Richard, 2005. "Unemployment: Macroeconomic Performance and the Labour Market," OUP Catalogue, Oxford University Press, number 9780199279173, Decembrie.
    2. Kristinn Hermannsson & Patrizio Lecca & J. Kim Swales, 2017. "How much does a single graduation cohort from further education colleges contribute to an open regional economy?," Spatial Economic Analysis, Taylor & Francis Journals, vol. 12(4), pages 429-451, October.
    3. McMahon, Walter W., 2002. "Education and Development: Measuring the Social Benefits," OUP Catalogue, Oxford University Press, number 9780199250721.
    4. Lecca, Patrizio & McGregor, Peter G. & Swales, J. Kim, 2013. "Forward-looking and myopic regional Computable General Equilibrium models: How significant is the distinction?," Economic Modelling, Elsevier, vol. 31(C), pages 160-176.
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    Cited by:

    1. Bertoletti, Alice & Berbegal-Mirabent, Jasmina & Agasisti, Tommaso, 2022. "Higher education systems and regional economic development in Europe: A combined approach using econometric and machine learning methods," Socio-Economic Planning Sciences, Elsevier, vol. 82(PA).
    2. Daniel A. Salas & Paulina Criollo & Angel D. Ramirez, 2021. "The Role of Higher Education Institutions in the Implementation of Circular Economy in Latin America," Sustainability, MDPI, vol. 13(17), pages 1-27, August.
    3. McMahon, Walter W., 2018. "The total return to higher education: Is there underinvestment for economic growth and development?," The Quarterly Review of Economics and Finance, Elsevier, vol. 70(C), pages 90-111.
    4. John Harrison & Ivan Turok, 2017. "Universities, knowledge and regional development," Regional Studies, Taylor & Francis Journals, vol. 51(7), pages 977-981, July.
    5. Elena B. Dvoryadkina & Elena G. Efimova, 2019. "The spatial aspect of regional policy in the field of the vocational education system development," Upravlenets, Ural State University of Economics, vol. 10(6), pages 28-41, December.

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