Investment in Tertiary Education : Main Determinants and Implications for Policy
Boarini, Romina; Strauss, Hubert; de la Maisonneuve, Christine; Nicoletti, Giuseppe; Oliveira Martins, Joaquim (2008), Investment in Tertiary Education : Main Determinants and Implications for Policy, CESifo Economic Studies, 54, 2, p. 277-312. http://dx.doi.org/10.1093/cesifo/ifn017
TypeArticle accepté pour publication ou publié
Journal nameCESifo Economic Studies
MetadataShow full item record
de la Maisonneuve, Christine
Oliveira Martins, Joaquim
Abstract (EN)Many OECD countries are aiming to reform their tertiary education (TE) systems. This work explores the determinants of the investment in TE, with a focus on institutional setting of TE systems and private incentives to undertake years of schooling beyond upper-secondary degree level. For this purpose the article first develops estimates of three main drivers of graduation patterns, namely institutional arrangements of TE supply, availability of funding for TE students, and private returns to tertiary studies. Second, the article empirically assesses how these three factors affect graduation ratios. Based on this analysis, the article then discusses policy-levers of TE investment and explores possible routes of reform for TE systems in OECD countries. The main findings are as follows: graduation ratios increase with private returns to TE as well with the autonomy and accountability of the supply of education. Lack or insufficient financial help to tertiary students negatively affects graduation ratios. There is a number of policy-levers to stimulate investment in TE. They include policies affecting labour market premia, the degree of flexibility of TE provision and the availability of funding for students.
Subjects / KeywordsInvestment in tertiary education; returns to education; supply of tertiary education
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