Is There Scope for Policy?

Giorgia Brunello, Pietro Garibaldi, Etienne Wasmer

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

This chapter discusses how design of training policies is strongly related to the type of market failures conducive to under-provision. The empirical evidence on the relevance of efficiency and equity issues is considered, and a political economy view of training subsidies is proposed. Furthermore, the key features of the training policies in place and the implications for training and product market reforms are examined, along with the evidence on the effect of training on turnover and the limited evidence on the importance of credit constraints. The chapter concludes that one needs to be prudent when designing public policies aimed at raising the provision of workplace training; there is no clear-cut evidence that the level of workplace training produced by firms and employees is significantly lower than the socially efficient level; governments have an important role to play in improving information about training opportunities, setting appropriate legal frameworks, and ensuring portability of skills; product and labour market reforms do affect training participation.

Original languageEnglish (US)
Title of host publicationEducation and Training in Europe
PublisherOxford University Press
ISBN (Electronic)9780191705786
ISBN (Print)9780199210978
DOIs
StatePublished - May 17 2007

Keywords

  • Equity
  • European education
  • Labour markets
  • Labour policy
  • Labour turnover
  • Market failures
  • Political economy
  • Workplace training

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

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    Brunello, G., Garibaldi, P., & Wasmer, E. (2007). Is There Scope for Policy? In Education and Training in Europe Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199210978.003.0014