How much does a single graduation cohort from further education colleges contribute to an open regional economy?

Hermannsson, K. , Lecca, P. and Swales, J. K. (2017) How much does a single graduation cohort from further education colleges contribute to an open regional economy? Spatial Economic Analysis, 12(4), pp. 429-451. (doi: 10.1080/17421772.2017.1316417)

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Abstract

This paper combines elements of growth accounting and numerical general equilibrium analysis to produce an alternative micro-to-macro modelling approach. This is used to evaluate the macroeconomic impact on the Scottish economy of the human capital generated by a single graduation cohort from further education colleges. The macroeconomic impact is found to be significant and larger than growth accounting would suggest due to the associated endogenous investment, employment and competitiveness effects. From a policy perspective this identifies the importance of the conventional teaching role of education institutions and the key function played by further education colleges in this process.

Item Type:Articles
Keywords:Graduates, further education colleges, labour supply, economic impact, general equilibrium.
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Hermannsson, Dr Kristinn
Authors: Hermannsson, K., Lecca, P., and Swales, J. K.
Subjects:H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HJ Public Finance
L Education > L Education (General)
College/School:College of Social Sciences > School of Education > Robert Owen Centre
College of Social Sciences > School of Education > Educational Leadership & Policy
Research Group:Robert Owen Centre
Journal Name:Spatial Economic Analysis
Publisher:Taylor & Francis
ISSN:1742-1772
ISSN (Online):1742-1780
Published Online:29 May 2017
Copyright Holders:Copyright © 2017 Regional Studies Association
First Published:First published in Spatial Economic Analysis 12(4): 429-451
Publisher Policy:Reproduced in accordance with the publisher copyright policy

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