During the second half of the last century, the question of educational expansion attracted much attention and debate revolved mostly around the evaluation of its socio-economic benefits and costs. Nowadays in the context of European higher education policy, the knowledge economy discourse expressed in the EU Lisbon Agenda renderedl higher education increasingly important for the development of nation’s economies through their central tasks of generation, application and dissemination of knowledge and training high skilled labour force. In this paper we analysed the role of higher education to economic development by highlighting private and societal benefits of university education as well as tiying to look at possible negative effects that higher education expansion might have. In addition, we made an overview of empirical studies, providing us with the evidence from cross-country analyses whether education promotes economic growth at macro economic level. Most empirical studies show, that there exist only and elusive connections between education and economic development.
|Journal||Management = Vadyba|
|Publication status||Published - 2006|
- Economic development
- Higher education