Articles · Vol. 2 No. 1 (2004): Journal of Higher Education in Africa · Pages 149-173

Private and Public Values of Higher Education in Developing Countries: Guidelines for Investment

Robert E. Evenson

  • Robert E. Evenson
    Robert E. Evenson
    Robert E. Evenson is Professor of Economics, Economic Growth Center, Yale University, 27 Hillhouse Avenue, New Haven, CT 06511; e-mail: robert.evenson@yale.edu.
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Vol. 2 · 2004 No. 1 Journal of Higher Education in Africa JHEA

Abstract

This paper argues that while scientific and technical “knowledge ” is an inter- national public good, the conversion of knowledge to inventions and innova- tions is not. Knowledge conversion is affected by natural (soil, climate) and economic (prices, wages) conditions. This means that the conversion of knowl- edge to economic growth production is quite location specific. Knowledge conversion is also subject to high technology “mastery” requirements. Tech- nology mastery also requires specialization by field of technology. These knowl- edge conversion conditions place a high premium on applied science and engi- neering skills. The “price of admission” to the economic growth club is high. This, in turn, means that Higher Education programs creating these skills have a “public” externality value that is much higher than the private value of these skills in labor markets. This public value is high enough to justify investments in foreign degree training and in programs to create graduate programs in the invention/innovation fields in many African universities.

 

Keywords

Higher Education value Investment high technology

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Author Biography

  • Robert E. Evenson

    Robert E. Evenson is Professor of Economics, Economic Growth Center, Yale University, 27 Hillhouse Avenue, New Haven, CT 06511; e-mail: robert.evenson@yale.edu.

References

  1. Evenson, R. E. (2000). Productivity and agricultural growth in the second half of the 20th century: State of food and agriculture. Rome, Italy: FAO.
  2. Evenson, R. E. (2001). Economic impacts of agricultural research and extension. In B. Gardner & G. Rausser, G. (Eds.), Handbook of Agricultural Economics (Vol. 1). Amsterdam: Elsevier Science.
  3. Evenson, R. E. (2002). Induced adaptive invention/innovation and productivity convergence in developing countries. In A. Grübler, N. Nakicenovic, W. D. Nordhaus (Eds.), Technological Change and the Environment. Washington, DC: RFF Press.
  4. Evenson, R. E., & Gollin, D. (Eds.) (2002). Crop variety improvement and its effect on productivity: The impact of international agricultural research. Wallingford, UK: CAB International.
  5. Huffman, W. E., & Evenson, R. E. (1993). Science for agriculture: A longterm perspective. Ames: Iowa State University Press.
  6. Kremer, M. (1998, November). Patent buyouts: A mechanism for encouraging innovation. Quarterly Journal of Economics.
  7. UNIDO. United Nations Industrial Development Organization (2003). Industrial development report 2002/2003: Competing through innovation and learning. Vienna, Austria: UNIDO.

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