Casey, Bernard. (2009) The economic contribution of PhDs. Journal of Higher Education Policy and Management, Vol.31 (No.3). pp. 219-227. ISSN 1360-080X

Full text not available from this repository.

Abstract

This paper looks at what the value of a doctorate is, both to employers in particular and to society and the economy at large. Given the emphasis many universities and funding agencies/governments are putting upon the development of PhD programmes, this is an issue deserving attention. The paper tries to show how two separate but interrelated questions ‘What is a doctorate worth?’ and ‘Is there a justification for society to subsidise the production of doctorates?’ might be answered. It considers the argument that the production of PhDs can generate benefits for wider society – both because the production process itself generates basic knowledge from which all can take advantage and because the outputs of that process help boost the productivity of those with whom they work. In other words, the gains to society as a whole might be greater than the sum of gains to PhD holders and their immediate employers. Evidence is reviewed.

Item Type:	Journal Article
Subjects:	H Social Sciences > HB Economic Theory L Education > LB Theory and practice of education > LB2300 Higher Education
Divisions:	Faculty of Social Sciences > Institute for Employment Research
Library of Congress Subject Headings (LCSH):	Doctor of philosophy degree -- Economic aspects, Education and state, Wages -- College graduates
Journal or Publication Title:	Journal of Higher Education Policy and Management
Publisher:	Routledge
ISSN:	1360-080X
Date:	August 2009
Volume:	Vol.31
Number:	No.3
Page Range:	pp. 219-227
Identification Number:	10.1080/13600800902974294
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
References:	Battu, H., Belfield, C., & Sloane, P. (2003). Human capital spillovers within the workplace: Evidence for Great Britain. Oxford Bulletin of Economics and Statistics, 65(5), 575–594. Flynn, J. (2007). What is intelligence? Cambridge: Cambridge University Press. Gemmell, N. (1997). Externalities to higher education (The Dearing Committee: Report no. 8). London: The National Committee of Inquiry into Higher Education. Greenaway, D., & Haynes, M. (2003). Funding higher education in the UK: The role of fees and loans. Economic Journal, 113, F150–F166. Jackson, C. (2007). Recruiting PhDs: What works? Cambridge: UK GRAD Programme. Lawton Smith, H. (2007). Universities, innovation and territorial development: A review of the evidence. Environment and Planning C: Government and Policy, 25(1), 98–114. Lucas, R. (2008). Schooling and growth. Phillips Lecture, London School of Economics, 7 February. Luintel, K., & Khan, M. (2005). An empirical contribution to knowledge production and economic growth (STI Working Paper 2005/10). Paris: Organisation for Economic Cooperation and Development. Moretti, E. (2004). Estimating the social return to higher education: Evidence from longitudinal and repeated cross-sectional data. Journal of Econometrics, 121(1–2), 175–212. Morgavi, A., McCarthy, M., & Metcalfe, J. (2007). Employers’ views of researchers’ skills: A comprehensive review of the existing literature into employers’ views of the skills of early career researchers. Cambridge: UK GRAD Programme. O’Leary, N., & Sloane, P. (2005). The return to a university education in Great Britain. National Institute Economic Review, 93(3), 75–89. Pack, H. (1994). Endogenous Growth Theory: Intellectual appeal and empirical shortcomings. Journal of Economic Perspectives, 8(1), 55–72. Rudd, E. (1987). The value of a Ph.D in Science or Technology in Britain. European Journal of Education, 21(3), 223–250. Universities UK. (2007). The economic benefits of a degree (research report by Pricewaterhouse- Coopers). London: Universities UK.
URI:	http://wrap.warwick.ac.uk/id/eprint/37516

Request changes to a record

Actions (login required)

View Item