Higher Education Institutions’ Impact on the Economy

Abstract

Despite the strong public interest in the accountability and efficiency in education spending on higher education institutions (HEIs) in Lithuania, there are currently no existing studies which have examined the impact of HEIs on the country’s economy. In the present study, we have used a disaggregated input-output table for Lithuania’s tertiary education institutions in order to determine the output value added to the local economy by the presence of HEIs. The results of the study have revealed that HEIs contribute to the Lithuanian economy in the period of (2010–2016), with the average of gross domestic output (GDP) of 298.48 mln. euros. The present study is the first of its kind to use input-output table evaluate the impact of HEIs on Lithuania’s economy, and its results could be of significant value to the current policy debates regarding the status of higher education in Lithuania.

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“…The former study paid no attention to the availability of small sale IGAs such as agricultural-based activities. The study by Vaiciukevičiūtė et al (2019) also found out that IGAs have an impact on a country's economy, which is dissimilarity from IGAs targeted by the current study that aimed to supplement public secondary schools' government grants and capitation. Panigrahi (2019) conducted a study in India on the financing the education sector and found out that government-support funds are insufficient to finance education and thus, education institutions suffocate from financial constraints.…”

“…The review of related literature on examining and exploring the availability of school-based income-generating activities intends to see what scholars have discussed on the matter under discussion at the global and local levels. Vaiciukevičiūtė et al (2019) conducted a study in Lithuania on the impact of the economy on public education institutions. The study aimed to determine how education institutions can substantially impact a country's economy.…”

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