How much does a single graduation cohort from further education colleges contribute to an open regional economy?. Issue 4 (2nd October 2017)

• Record Type: Journal Article
• Authors: Hermannsson, Kristinn; Lecca, Patrizio; Swales, J. Kim
• Is Part Of: Spatial economic analysis. Volume 12:Issue 4(2017)
• Page Start: 429
• Page End: 451
• Publication Date: 2017-10-02
• Subjects: graduates -- further education colleges -- labour supply -- economic impact -- general equilibrium; 毕业生 -- 扩充教育学院 -- 劳动供给 -- 经济影响 -- 一般均衡理论; diplômés -- collèges d'enseignement postscolaire -- offre d'emploi -- impact économique -- équilibre général; licenciados -- escuelas superiores de educación complementaria -- oferta laboral -- impacto económico -- equilibrio general; D58 -- E17 -- I23 -- R13; Space in economics -- Periodicals; Economic geography -- Periodicals; Space in economics -- Econometric models -- Periodicals; Urbanization -- Periodicals; Espace (Économie politique) -- Périodiques; Économétrie -- Périodiques; Géographie économique -- Périodiques; Économie industrielle -- Périodiques; Économie du travail -- Périodiques; Économie urbaine -- Périodiques; Politique économique -- Périodiques; Relations économiques internationales -- Périodiques; 330.9
• DOI: 10.1080/17421772.2017.1316417
• Languages: English
• ISSNs: 1742-1772

Abstract

ABSTRACT: How much does a single graduation cohort from further education colleges contribute to an open regional economy? Spatial Economic Analysis . 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.