THE ECONOMIC IMPACT OF EDUCATION AND VOCATIONAL TRAINING IN THE CURRENT GLOBAL CONTEXT: A COMPARATIVE ANALYSIS – EUROPE VS. USA

Nicoleta Gudanescu ()
Additional contact information
Nicoleta Gudanescu: Institute for World Economy, Romanian Academy 13, Calea 13 Septembrie, 6th district, Bucharest ROMANIA

Global Economic Observer, 2025, vol. 13, issue 1, 78-86

Abstract: In the current global context, marked by accelerated digitalization, ecological transition, and structural labor market shifts, vocational education and training (VET) systems have become strategic levers for increasing economic competitiveness and workforce adaptability. This article provides a comparative analysis of the economic impact of VET systems in the European Union (EU) and the United States of America (USA), focusing on institutional frameworks, funding structures, labor market integration, and responses to recent crises such as the COVID-19 pandemic and the war in Ukraine. Using operational and financial indicators—such as participation rates across age groups, employment outcomes, investment volumes, and employer engagement— the study identifies significant differences: the EU emphasizes structural coherence, dual training systems, and public financing, while the USA model favors decentralization, flexibility, and strong private-sector involvement. The analysis reveals that VET contributes to increased productivity, higher employment rates, and reduced social inequalities, especially when aligned with digital and green skills development. Furthermore, the article highlights the need for adaptive policies that combine the EU’s focus on equity and institutional integration with the USA’s agility and innovation capacity. The conclusions suggest that transatlantic convergence could foster a resilient and inclusive global VET ecosystem, capable of responding to rapid economic and technological changes. Strategic investments, coordinated public–private partnerships, and digital infrastructure development emerge as key pillars for future-proof VET systems.

Keywords: vocational education and training; economic impact; European Union; United States; productivity; labor market; digital skills; comparative policy (search for similar items in EconPapers)
JEL-codes: A20 (search for similar items in EconPapers)
Date: 2025-06
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.globeco.ro/wp-content/uploads/vol/spli ... ol13_no1_art_008.pdf First version, 2025 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ntu:ntugeo:vol13-iss1-78-86

Access Statistics for this article

Global Economic Observer is currently edited by Serghei Margulescu and Simona Moagar-Poladian

More articles in Global Economic Observer from "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences Contact information at EDIRC., Institute for World Economy of the Romanian Academy
Bibliographic data for series maintained by Stefan Ciucu ( this e-mail address is bad, please contact ).