Investing in higher education helps economic recovery, says OECD
The Organization for Economic Cooperation and Development (OECD) said
Tuesday in a report that investing in higher education will contribute
to economic recovery, suggesting governments to consider this in
planning education policies.
"As we emerge from the global economic crisis, demand for university
education will be higher than ever," the OECD Secretary-General Angel
Gurria said. "To the extent that institutions are able to respond,
investments in human capital will contribute to recovery."
In the annual Education at a Glance report, the Paris-based
organisation said growing advantages for the better educated and in the
context of the continuing high unemployment will bring more and more
young people to stay on in education.
According to the report, in the United States, a male graduate can
expect to earn more than 367,000 U.S. dollars extra in his lifetime,
nearly doubled the other OECD countries.
A female U.S. student with a university degree can earn more than
229,000 U.S. dollars, despite of the disparity in most countries between
male and female. "Going to university pays dividends in late life
through higher salaries, better health and less vulnerability to
unemployment." Besides, government budgets and the overall economy also
gain an advantage from high number of graduates.
"Overall the figures provide a powerful incentive to expand higher
education in most countries through both public and private financing,"
the OECD noticed. Xinhua