Book chapter 2015

Skills Training: Public Policy Aspects

NM
Nelson, Moira
International Encyclopedia of the Social & Behavioral Sciences: Second Edition
Journal · pp. 20-24
Abstract

This article describes factors influencing investments in skills training as well as related outcomes in terms of participation rates and benefits on an individual and societal level. Market mechanisms largely drive human capital investments. According to this logic, workers and employers conduct a cost-benefit analysis, weighing expected payoffs against expected costs and investing accordingly. At the same time, market failures and collective action problems may occur in the provision of training. Various policies and institutions have been shown to resolve such problems and boost training. Whereas participation rates vary widely by firm characteristics, high rates of participation help countries specialize in high-quality production and achieve high job satisfaction. © 2015 Elsevier Ltd All rights reserved.

Keywords

Author Keywords

vocational education and training education Adult education and life-long learning Cost benefit/cost effectiveness Economics of Education and economic growth Education and employment Human capital: educational aspects

Index Keywords

Author Affiliations
Lunds Universitet, Lund, Skane, Sweden
Funding & Acknowledgements
No funding information
References 10 References
1 Acemoglu, Daron, Beyond becker: Training in imperfect labour markets, Economic Journal, 109, 453, pp. 112-142, (1999)
2 Acemoglu, Daron, Why do firms train? theory and evidence, Quarterly Journal of Economics, 113, 1, pp. 78-119, (1998)
3 Askilden, Jan Erik, Apprentices and young workers: A study of the Norwegian youth labour market, Scottish Journal of Political Economy, 52, 1, pp. 1-17, (2005)
4 Ballot, Gérard, Who benefits from training and R&D, the firm or the workers?, British Journal of Industrial Relations, 44, 3, pp. 473-495, (2006)
5 Betriebliche Kosten Und Nutzen Der Ausbildung Reprasentative Ergebnisse Aus Industrie Handel Und Handwerk, (1995)
6 Human Capital, (1980)
7 Human Capital A Theoretical and Empirical Analysis with Special Reference to Education, (1964)
8 Brunelloa, Giorgio, The effect of economic downturns on apprenticeships and initial workplace training: A review of the evidence, Empirical Research in Vocational Education and Training, 1, 2, pp. 145-171, (2009)
9 Brunello, Giorgio, Education and earnings growth: Evidence from 11 European countries, Economics of Education Review, 23, 1, pp. 75-83, (2004)
10 Political Economy of Collective Skill Formation, (2011)
Quick Actions
Full Text via DOI
Citation Metrics
0
Times Cited (Scopus)
References 10
Document Identifiers