A Study of the Factors Affecting Participation in Post-compulsory, Full-time Education and Government Supported Training by 16-18 year-olds in England and Wales
Aggregated data are used to investigate participation in education and training, and it is found that it is appropriate to model the aggregate participation rates using a sequential choice model, whereby training choices are made ex-post by school-leavers. Both investment- side and consumption-side factors are identified affecting the participation rates, in line with the theory that education is both a consumption and an investment good. In addition, a strong effect is found from aggregate academic performance, suggesting changes in education policy made a significant contribution to the increasing uptake of post-compulsory eduction in recent years.
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