A fast-forward look at tertiary education attainment in Europe 2020

This paper strives to answer the question whether Europe will reach its tertiary education attainment target by 2020. We model the dynamics behind education decisions as a balance between investment and consumption motivations. We use a panel approach and a wide range of statistical tests to insure...

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Bibliographic Details
Published in:Journal of policy modeling 2015-09, Vol.37 (5), p.804-819
Main Authors: Dragomirescu-Gaina, Catalin, Elia, Leandro, Weber, Anke
Format: Article
Language:English
Subjects:
Decision making models
Education policy
Educational attainment
Europe 2020 strategy
Forecasting
Higher education
Human capital investment
Panel data
Statistical methods
Studies
Tertiary education
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Summary:This paper strives to answer the question whether Europe will reach its tertiary education attainment target by 2020. We model the dynamics behind education decisions as a balance between investment and consumption motivations. We use a panel approach and a wide range of statistical tests to insure that model specifications are stable and robust. Insights into the dynamics of future education attainment and remaining policy challenges are highlighted. While Europe is likely to achieve its target, there is a growing divide between best and low performing countries that raises doubts with respect to real economic convergence prospects.
ISSN:0161-8938
1873-8060
DOI:10.1016/j.jpolmod.2015.05.002