Researchers from the Fraser of Allander Institute, in the Department of Economics, contributed to the ongoing higher education policy debate in Wales by presenting their results on the overall economic impact of Welsh Higher Education Institutions (HEIs) in a workshop held in the Millennium Centre in Cardiff last month.
The Strathclyde team, which included Professor Peter McGregor, Dr Katerina Lisenkova and Kristinn Hermannsson, presented their findings on the demand-side (expenditure) impacts of HEIs in Wales, identifying the relative roles of devolved public funding and export income in driving that impact. In addition the team presented findings on the overall impact of Welsh HEIs, incorporating supply-side impacts, such as increased skills in the labour market, through the use of Computable General Equilibrium Equilibrium (CGE) models developed in the Fraser.
The discussions were chaired by Professor Phil Gummet, Chief Executive of the Higher Education Funding Council Wales and an introduction on the economic impact of Higher Education Institutions (HEIs) was given by Gareth Jones, Chair of the Enterprise and Learning Committee, National Assembly for Wales and Chair of the Inquiry into the economic contribution of higher education.
Among participants in discussions were members of the Welsh First Minister's Economic Advisory Panel (ERAP), provoking a stimulating debate. Furthermore, Professor Noel Lloyd, Vice-Chancellor, Aberystwyth University, launched a new report by Oxford Economics on the impact of international and EU students in Wales, and Pete Collings, of Oxford Economics, presented the report's results.
The workshop was organised by Ms Ursula Kelly, Visiting Scholar in the Department of Economics and Director of Viewforth Consulting, as part of the ESRC Impact of Higher Education Institutions on Regional Economies Initiative. The initiative is jointly coordinated by Professor McGregor and Ms Kelly.
The Fraser of Allander Institute and the Department of Economics have developed a range of models and databases on the links between higher education and the economy in UK-regions through their three-year ESRC and funding council backed research project, which came to an end last November.
Researchers are continuing to engage in a range of knowledge exchange activities to enhance the impact of the work. Details of research outputs from the project can be found on the website of the Impact of HEIs on Regional Economies Initiative: www.impact-hei.ac.uk/