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Market regulation

In: Handbook on Higher Education Management and Governance

Author

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  • Paul Temple

Abstract

The term ‘market’ in relation to the operation and regulation of universities bears a number of meanings. One is the idea that institutions compete among themselves, nationally or internationally, for the best-qualified students, for research funds, and for prestige generally: markets, albeit with various limitations, may be considered to exist in these and other areas. A more recent use of the term refers to state agencies creating ‘quasi-markets’ to inform public-sector resource allocation decisions. In higher education, this may involve cost reduction, but may also be used to widen participation or to concentrate research resources, for example. This use of market-type methods to allocate resources in higher education, and in other areas of public spending, arose in the 1980s and 1990s in several Western countries. It was a reaction to the perceived failure of corporatist approaches to public sector management, aiming at shifting power away from producers and towards consumers.

Suggested Citation

  • Paul Temple, 2023. "Market regulation," Chapters, in: Alberto Amaral & António Magalhães (ed.), Handbook on Higher Education Management and Governance, chapter 14, pages 203-214, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20796_14
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