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Evaluation of High Educational Institutes Economic Impact with Satellite Accounting: An Empirical Application in Greece

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  • Mihail N. Diakomihalis

Abstract

The purpose of this article is to show how to evaluate the various economic impacts generated by the establishment and operation of high educational institutes (HEIs) on a local economy and how HEIs affect the national economy, particularly that of Greece. The methodological framework used in this paper is the Satellite Account for Education (SAE) which has not been yet developed in Greece and therefore consists of a proposed methodological framework based on international human accounting rules and principles. The empirical application concerns the effect of the Technological Educational Institute (TEI) of Epirus on the local economy of the Preveza prefecture through measuring the effect on consumption, GDP, local income, value added tax, and employment. The outcomes of the research are important to the government and education policymakers, especially since Greece faces enormous public finance problems and problems with the transformation of the tertiary education system.

Suggested Citation

  • Mihail N. Diakomihalis, 2014. "Evaluation of High Educational Institutes Economic Impact with Satellite Accounting: An Empirical Application in Greece," Business and Economic Research, Macrothink Institute, vol. 4(2), pages 1-20, December.
    • Handle: RePEc:mth:ber888:v:4:y:2014:i:2:p:1-20
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    References listed on IDEAS

    as
    1. Bessette, Russell W, 2003. "Measuring the Economic Impact of University-Based Research," The Journal of Technology Transfer, Springer, vol. 28(3-4), pages 355-361, August.
    2. Sue Cox & Jim Taylor, 2006. "The Impact of a Business School on Regional Economic Development: a Case Study," Local Economy, London South Bank University, vol. 21(2), pages 117-135, May.
    3. Pontus Braunerhjelm, 2008. "Specialization of Regions and Universities: The New Versus the Old," Industry and Innovation, Taylor & Francis Journals, vol. 15(3), pages 253-275.
    4. Tsang, Eric W. K., 2014. "Old and New," Management and Organization Review, Cambridge University Press, vol. 10(03), pages 390-390, November.
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    More about this item

    Keywords

    Economic impact evaluation; Satellite accounting; Public sector; Higher education institutes;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • I20 - Health, Education, and Welfare - - Education - - - General
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

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