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Education premium and the compound impact of universities on their regional economy

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Although the positive impact of higher education on regional economies is widely recognized, empirical assessment of the magnitude of its periodic financial impact remains a puzzle. Conventional impact studies have focused on the regional effects of periodic university spending, neglecting the core...

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Bibliographic Details
Main Authors: Janzen, Katrin (Author) , Panitz, Robert (Author) , Glückler, Johannes (Author)
Format: Article (Journal)
Language:English
Published: 2022
In: Research policy
Year: 2022, Volume: 51, Issue: 1, Pages: 1-11
ISSN:1873-7625
DOI:10.1016/j.respol.2021.104402
Online Access:Verlag, lizenzpflichtig, Volltext: https://doi.org/10.1016/j.respol.2021.104402
Verlag, lizenzpflichtig, Volltext: https://www.sciencedirect.com/science/article/pii/S0048733321001980
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Author Notes:Katrin Janzen, Robert Panitz, Johannes Glückler
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Summary:Although the positive impact of higher education on regional economies is widely recognized, empirical assessment of the magnitude of its periodic financial impact remains a puzzle. Conventional impact studies have focused on the regional effects of periodic university spending, neglecting the core functions of higher education institutions. To overcome these shortcomings, we develop the concept of a differential regional education premium and implement it in an extended regional multiplier model. The new model integrates university expenditures and education into a compound effect on regional gross value added. Empirically, we find that the education premium increases the traditional effects of state universities in Baden-Württemberg by 68 percent. Generally, the model can be applied to other regions internationally by adapting to regional factors, such as graduate retention, tuition fees, wage levels and occupational qualifications in regional labor markets.
Item Description:Available online 30 October 2021
Gesehen am 01.12.2021
Physical Description:Online Resource
ISSN:1873-7625
DOI:10.1016/j.respol.2021.104402

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