Ã¢â‚¬Å“Policy ScepticismÃ¢â‚¬Â and the Impact of London-based Higher Education Institutions (HEIs) on the economy of England: Accounting for Alternative Uses of Public Expenditure
This paper replicates the analysis of Scottish HEIs in Hermannsson et al (2010a) for the case of London-based HEIsÃ¢â‚¬â„¢ impact on the English economy in order to provide a self-contained analysis that is readily accessible by those whose primary concern is with the regional impacts of London HEIs. A Ã¢â‚¬Å“policy scepticismÃ¢â‚¬Â has emerged that challenges the results of conventional regional HEI impact analyses. This denial of the importance of the expenditure impacts of HEIs appears to be based on a belief in either a binding regional resource constraint or a regional public sector budget constraint. In this paper we provide a systematic critique of this policy scepticism. However, while rejecting the extreme form of policy scepticism, we argue that it is crucial to recognise the importance of alternative uses of public expenditure, and show how conventional impact analyses can be augmented to accommodate this. While our results suggest that conventional impact studies overestimate the expenditure impacts of HEIs, they also demonstrate that the policy scepticism that treats these expenditure effects as irrelevant neglects some key aspects of HEIs, in particular their export intensity.
|Date of creation:||Dec 2010|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +44 (0)141 548 3842
Fax: +44 (0)141 548 4445
Web page: http://www.strath.ac.uk/economics/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John J. Siegfried & Allen R. Sanderson & Peter McHenry, 2006.
"The Economic Impact of Colleges and Universities,"
Vanderbilt University Department of Economics Working Papers
0612, Vanderbilt University Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:str:wpaper:1029. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Kirsty Hall)
If references are entirely missing, you can add them using this form.