The Power of Self-Interest: Effects of Education and Training Entitlements in Later-Life
Cain Polidano (),
Justin van de Ven () and
Melbourne Institute Working Paper Series from Melbourne Institute of Applied Economic and Social Research, The University of Melbourne
Education and training among the working-age population has become an increasingly important policy issue as working lives have lengthened and the pace of technological change has quickened. This paper describes the effects of a reform that replaced a supply-driven model, in which government selected the number and providers of publicly subsidised Vocational Education and Training (VET), with a demand-driven approach that broadened access to adult training and gave working-age individuals greater freedom of VET course choice. Difference-in-differences analysis reveals that the large-scale reform, which was introduced in the Australian state of Victoria from 2009, substantively increased participation in VET among the population aged 25-54, and corresponded with an improved match between VET courses taken and objective ex ante measures of labour market demand. Indeed, the scheme was so popular that it resulted in a budget over-run by 2012 of $400 million (AUD, on a total budget of $1.3 billion).
Keywords: Adult education; voucher; entitlement; Vocational Education and Training (VET); demand-driven subsidy (search for similar items in EconPapers)
JEL-codes: I22 I28 H31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:iae:iaewps:wp2017n12
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