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Tertiary education, as a tool to promote productivity and jobs in Europe

Tertiary education, as a tool to promote productivity and jobs in Europe. Fabienne Ilzkovitz DG ECFIN, European Commission. Conference on “Quality of tertiary education and the economic policy agenda” April 2 nd 2008. Overview. Why is investment in tertiary education important?

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Tertiary education, as a tool to promote productivity and jobs in Europe

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  1. Tertiary education, as a tool to promote productivity and jobs in Europe Fabienne Ilzkovitz DG ECFIN, European Commission Conference on “Quality of tertiary education and the economic policy agenda” April 2nd 2008

  2. Overview • Why is investment in tertiary education important? • Do we invest sufficiently in tertiary education? • Efficiency and effectiveness of public spending in tertiary education

  3. Why is investment in tertiary education important? Efficiency and Equity • Driver of productivity and growth • Tool to maximise the opportunities of globalisation • Equip people to minimise adjustment costs

  4. Why is investment in tertiary education important? Efficiency and Equity • Driver of productivity and growth • Tool to maximise the opportunities of globalisation • Equip people to minimise adjustment costs

  5. Productivity growth A 1 year increase in average educational attainment of the workforce tends to increase productivity by app. 7-10% 10 years sliding average annual growth rate

  6. Why is investment in tertiary education important? Efficiency and Equity • Driver of productivity and growth • Tool to maximise the opportunities of globalisation • Equip people to minimise adjustment costs

  7. Innovation and tertiary education Source: Eurostat / Commission services. EE, LU, RO: no data on expenditure available

  8. Why is investment in tertiary education important? Efficiency and Equity • Driver of productivity and growth • Tool to maximise the opportunities of globalisation • Equip people to minimise adjustment costs

  9. Hours worked by high-skilled persons (share in total hours worked) Source: EUKLEMS EU = EU-15ex (growth accounting) AT, BE, DK, FI, FR, DE, IT, NL, ES, UK

  10. Overview • Why is investment in tertiary education important? • Do we invest sufficiently in tertiary education? • Efficiency and effectiveness of public spending in tertiary education

  11. Investment in education

  12. Overview • Why is investment in tertiary education important? • Do we invest sufficiently in tertiary education? • Efficiency and effectiveness of public spending in tertiary education

  13. Quality of public spending Efficiency and effectiveness of public spending on education: • Combine the fiscal discipline requested by the SGP with the structural reform agenda of Lisbon • Analyses show that efficiency gains are possible

  14. Spending on primary and secondary education - PISA Source: OECD

  15. Joint work byEPC WGQPF/COM Objective: • Measurement of efficiency • Better knowledge on determinants of efficiency • Policy recommendations Analysis of spending item by spending item, e.g. R&D, tertiary education Step-by-step approach

  16. Stepwise approach • Identifying appropriate indicators • Calculating efficiency scores • Country case studies • Identifying determinants of efficiency

  17. Conclusions • Tertiary education is key to improve productivity and growth and to maximise opportunities of globalisation • It is important to invest sufficient public and private spending in tertiary education • More efficiency and effectiveness of public spending is needed  Area for further work

  18. Thank you

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