Abstract
This paper deals with the regional input-output analysis and its application to evaluation of the macro-economic impact of expenditures on higher education. Regional input-output tables represent newly developed tool which can be used for the assessment of the regional economic impact of the particular industry and its institutions. The regional input-output tables were experimentally constructed by the Department of Economic Statistics at the University of Economics for all 14 Czech regions. Employing them, we can demonstrate the impact of expenditures on higher education on the macro-economic indicators and employment. This paper deals with 1 billion Czech crowns expenditures on higher education sent by the Ministry to the hypothetical higher education institution. Finally, the impact of higher education expenditures is compared with the impact of expenditures to another industries (ICT, R&D and tourism).
Highlights
Economic impact of education can be measured and evaluated in several ways. Mazouch and Fischer (2011) analyse the social and economic impacts of higher education for the whole economy and for the individual regions as well
The analysis is based on symmetric input-output tables and symmetric input-output model (Zbranek and Sixta, 2013), which represent an extension of the core of national accounts for analytical use
The output of the region increases by 0.4% (1.2 bn CZK) and the final consumption expenditures increase by 1%
Summary
Economic impact of education can be measured and evaluated in several ways (see Fig. 1). Mazouch and Fischer (2011) analyse the social and economic impacts of higher education for the whole economy and for the individual regions as well. Luger et al (2001) pointed out impact of HEIs on creation of jobs (both university and non-university), attraction of students and visitors and their consequent spending, formation of human capital and development of new technologies (both with the impact on productivity increase) and formation of regional milieu, influencing stimulation of entrepreneurial activities and attraction of high skilled workers (see Fig. 1). From his approach, we select just direct purchases of HEIs and their multiplier effects on the economy for our analysis. The impact of 1 additional million or billion crown is analysed; for ICT products, see Fischer and Vltavská (2012), for tourism see Fischer et al (2016) and for R&D expenditures see Fischer and Vltavská (2017)
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