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Macroeconomic benefits of vocational education and training

Improvements in workforce skills are essential for European countries to attain higher economic growth and to compe ... Show more
Improvements in workforce skills are essential for European countries to attain higher economic growth and to compete effectively on product markets. Literature indicates a positive relationship between levels of education and productivity growth and this report builds on and expands this body of research in two ways. First, it investigates the differential impact of various skill types - higher (academic), upper-intermediate vocational, lower-intermediate vocational, lower-intermediate general, and low - on labour productivity. Then it accounts for the stock of uncertified skills (i.e. those built through training). The analysis is carried out in six [European Union] EU Member States - Denmark, Germany, France, the Netherlands, Sweden and the UK - representing different modes of [vocational education and training] VET (and for which data were available). The analysis suggests that general and vocational skills complement each other and that the effect of (certified) skills on productivity is stronger when certified skills are reinforced by training.
Published abstract reprinted by permission of the copyright owner. Show less

Corporate authors: European Centre for the Development of Vocational Training (Cedefop)

Date: 2014

Geographic subjects: Europe; Denmark; Germany ... [+] Show more

Resource type: Report, paper or authored book

Series name: Cedefop research paper

Subjects: Outcomes; Vocational education and training; Skills and knowledge ... [+] Show more

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Macroeconomic benefits of vocational education and training