Vocational or university education? A new look at their effects on economic growth

This paper shows that the effect of vocational education on economic growth appears to be greater than that of university education. Additionally, the reversed effect of economic growth on vocational education seems to be stronger than on university education. ► We find a two-way causality between t...

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Bibliographic Details
Published in:Economics letters 2012-11, Vol.117 (2), p.426-428
Main Authors: Vu, Tam Bang, Hammes, David L., Im, Eric Iksoon
Format: Article
Language:English
Subjects:
Economic growth
Education systems
Higher education
Simultaneity
Studies
Universities
Vocational education
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Summary:This paper shows that the effect of vocational education on economic growth appears to be greater than that of university education. Additionally, the reversed effect of economic growth on vocational education seems to be stronger than on university education. ► We find a two-way causality between two levels of education and economic growth. ► University and vocational education each have a positive impact on growth. ► Vocational education has a greater impact on growth than does university education. ► The reverse causality is also positive with stronger effect on vocational education. ► The results are robust for alternative models and datasets.
ISSN:0165-1765
1873-7374
DOI:10.1016/j.econlet.2012.06.027