Higher Education Funding Strategies: Towards Equity, Efficiency, and Quality
Keywords:
Higher Education Funding, Funding Strategy, Quality of Higher Education
Abstract
As economists have become increasingly interested in higher education, economic reasoning has been applied, resulting in extremely useful research in higher education. With the growth of market forces in higher education, the changing role of government, and advances in research on the economics of higher education, higher education funding is increasingly seen as a tool to stimulate the market. The development of an effective funding strategy may be one of the keys to developing higher education - its quality and efficiency, increasing equity and equality. The article adds to the existing literature on higher education funding and the impact of market forces on higher education. It aims to provide an analysis of economic reasoning applied to higher education, which can be used as a tool to develop a funding strategy. It also includes an overview of different funding models concerning economic reasoning and synthesizes different funding strategies regarding their impact on the higher education market.
Downloads
Download data is not yet available.
Metrics
Metrics Loading ...
PlumX Statistics
References
1. Archibald, R. (2020). Cost Disease, Higher Education. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 245-249). Dordrecht: Springer.
2. Armbruster, C. (2008). On Cost-Sharing, Tuition Fees and Income-Contingent Loans for Universal Higher Education: a new contract between university, student and state? Policy Futures in Education, 6(4), 390-408.
3. BenDavid-Hadar, I. (2018). Education Finance, Equality, and Equity - Introduction. In I. BenDavid-Hadar (Ed.), Education Finance, Equality and Equity (pp. 13-17). Springer.
4. Biscaia, R. (2020). Performance-Based Funding, Higher Education. In The International Encyclopedia of Higher Education Systems and Institutions (pp. 223-226). Springer.
5. Bou-Habib, P. (2010). Who Should Pay for Education? Journal of Philosophy of Education, 44(4), 479-495.
6. Callender, C. (2020). High Participation in Higher Education, Implications for Funding. In Encyclopedia of International Higher Education Systems and Institutions (pp. 611-616). Netherlands: Springer.
7. Dill, D. D., & Soo, M. (2004). Transparency and Quality in Higher Education Markets. In P. Teixeira, B. Jongbloed, D. Dill, & A. Amaral (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 61-87). Dordrecht, The Netherlands: Kluwer Academic Publishers.
8. Dill, D., Teixeira, P., Jongbloed, B., & Amaral, A. (2004). Conclusion. In P. Teixeira, D. Dill, B. Jongbloed, & A. Amaral (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 327-353). Kluwer Academic Publishers.
9. Dodds, A. (2011). The British higher education funding debate: the perils of 'talking economics. London Review of Education, 9(3), 317-331.
10. EUA. (2015). Define Project: Designing Strategies for Efficient Funding of Universities in Europe. Retrieved at https://eua.eu/downloads/publications/designing%20strategies%20for%20efficient%20funding%20of%20universities%20in%20europe%20define.pdf
11. Eurydice (2022). European Commission, EACEA National Policies Platform, Higher Education Funding. Retrieved at: https://eacea.ec.europa.eu/national-policies/eurydice/content/higher-education-funding-1_en
12. Gayardon, A. (2020). Free Higher Education, Myths and Realities. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 527-531). Dordrecht: Springer.
13. Guri-Rosenblit, S., Šebková, H., & Teichler, U. (2007). Massification and Diversity of Higher Education Systems: Interplay of Complex Dimensions. Higher Education Policy(20), 373-389.
14. Hamman, J., & Beljean, S. (2020). Academic Drift. In P. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 28-34). Dordrecht: Springer.
15. Herbst, M. (2020). Performance-Based Funding, Higher Education in Europe. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 2227-2235). Dordrecht: Springer.
16. Johnstone, B. (2002). Challenges of Financial Austerity: Imperatives and Limitations of Revenue Diversification in Higher Education. The Welsh Journal of Education , 11(1), 18-36.
17. Johnstone, B. (2020). Cost-Sharing in Financing Higher Education. In P. N. Teixeira, & J. C. Shin (Eds.), The Encyclopedia of Higher Education Systems and Institutions (pp. 247-251). Dordrecht: Springer.
18. Johnstone, B. (2004). The economics and politics of cost sharing in higher education: comparative perspectives. Economics of Education Review, 23(4), 403-410.
19. Jongbloed, B. (2004). Regulation and Competition in Higher Education. In P. Teixera, B. Jongbloed, A. Amaral, & D. Dill (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 87-113). Dodrecht: Kluwer Academic Publishing.
20. Jongbloed, B. (2010). Funding Higher Education: A View Across Europe. European Center for Strategic Management of Universities. ESMU.
21. Jongbloed, B. (2020a). Economic Perspectives, Research in Higher Education. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 342-350). Dordrecht: Springer.
22. Jongbloed, B. (2020b). Public Funding of Higher Education, Europe. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 2354-2364). Dordrecht: Springer.
23. Jooste, N. (2020). Internationalization of Higher Education, Emerging Economy Perspectives. In P. N. Teixeira, & J. C. Shing (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 1904-1920). Dordrecht: Springer.
24. Leach, L. (2013). Participation and Equity in Higher Education: Are We Going Back to the Future? Oxford Review of education, 39(2), 267-286.
25. Massy, F. W. (2004). Markets in higher education: do they promote internal efficiency? In P. Teixeira, B. Jongbloed, A. Amaral, & D. Dill (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 13-37). Dordrecht: Kluwer Academic Publishings.
26. Mendiolla, A. G. (2012). State and Market in Higher Education Reforms: Overview of the Issues . In H. G. Schuetze, & A. G. Mendiola (Eds.), State and Market in Higher Education Reforms Trends, Policies and Experiences in Comparative Perspective (pp. 7-25). Rotterdam: Sense Publishers.
27. Mikesell, J. L. (2011). Fiscal Administration, eighth edition. (pp. 1-37). Wadsworth: Cengage Learning.
28. OECD. (2017). Education at a Glance 2017: OECD indicators. Retrieved at https://www.oecd-ilibrary.org/education/education-at-a-glance-2017_eag-2017-en
29. OECD. (2020). Education at a Glance 2020: OECD indicators. Retrieved at https://doi.org/10.1787/69096873-en
30. Panigrahi, J. (2018). Financing of Higher Education Institutions: Access to Funds and Issues of Equity. In I. BenDavid-Hadar (Ed.), Education Finance, Equality, and Equity (pp. 113-135). Springer.
31. Sá, C., & Sá, C. (2020). Economic Determinants of Higher Education Demand. In P. N. Teixeira, & J. C. Shin (Eds.), The Encyclopedia of Higher Education Systems and Institutions (pp. 338-341). Dordrecht: Springer.
32. Sporn, B. (2020). Competition in Higher Education. In P. N. Teixera, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 224-227). Dordrecht: Springer.
33. Spring, J. (2015). Economization of Education. Human Capital, Global Corporations, Skills-Based Schooling. New York: Routledge.
34. Teixera, P., Jongbloed, B., Amaral, A., & Dill, D. (2004). Introduction. In P. Teixera, B. Jongbloed, A. Amaral, & D. Dill (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 1-13). Dordrecht: Kluwer Academic Publishers.
35. Teixera, P., Kim, S.,Gilani, Z.,Landoni, P. (2017). Changing the Public-Private Mix in Higher Education. In P. Teixeira, S. Kim, Z. Gilani, P. Landoni (Eds.), Rethinking the Public-Private Mix in Higher Education, Global Trends and National Policy Challenges. (pp. 165-177). Roterdam: Sense Publishers.
36. Teixera, P., Landoni, P. (2017). The Rise of Private Higher Education, Patterns of Development and Regulatory Challenges. In P. Teixeira, S. Kim, Z. Gilani, P. Landoni (Eds.), Rethinking the Public-Private Mix in Higher Education, Global Trends and National Policy Challenges. (pp. 21-35). Roterdam: Sense Publishers.
37. Toutkoushian, R. K., & Paulsen, M. B. (2016). Overview of Economic Reasoning and Terminology. In R. K. Toutkoushian, & M. B. Paulsen, Economics of Higher Education. Backgrounds, Concepts, and Applications. Springer.
2. Armbruster, C. (2008). On Cost-Sharing, Tuition Fees and Income-Contingent Loans for Universal Higher Education: a new contract between university, student and state? Policy Futures in Education, 6(4), 390-408.
3. BenDavid-Hadar, I. (2018). Education Finance, Equality, and Equity - Introduction. In I. BenDavid-Hadar (Ed.), Education Finance, Equality and Equity (pp. 13-17). Springer.
4. Biscaia, R. (2020). Performance-Based Funding, Higher Education. In The International Encyclopedia of Higher Education Systems and Institutions (pp. 223-226). Springer.
5. Bou-Habib, P. (2010). Who Should Pay for Education? Journal of Philosophy of Education, 44(4), 479-495.
6. Callender, C. (2020). High Participation in Higher Education, Implications for Funding. In Encyclopedia of International Higher Education Systems and Institutions (pp. 611-616). Netherlands: Springer.
7. Dill, D. D., & Soo, M. (2004). Transparency and Quality in Higher Education Markets. In P. Teixeira, B. Jongbloed, D. Dill, & A. Amaral (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 61-87). Dordrecht, The Netherlands: Kluwer Academic Publishers.
8. Dill, D., Teixeira, P., Jongbloed, B., & Amaral, A. (2004). Conclusion. In P. Teixeira, D. Dill, B. Jongbloed, & A. Amaral (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 327-353). Kluwer Academic Publishers.
9. Dodds, A. (2011). The British higher education funding debate: the perils of 'talking economics. London Review of Education, 9(3), 317-331.
10. EUA. (2015). Define Project: Designing Strategies for Efficient Funding of Universities in Europe. Retrieved at https://eua.eu/downloads/publications/designing%20strategies%20for%20efficient%20funding%20of%20universities%20in%20europe%20define.pdf
11. Eurydice (2022). European Commission, EACEA National Policies Platform, Higher Education Funding. Retrieved at: https://eacea.ec.europa.eu/national-policies/eurydice/content/higher-education-funding-1_en
12. Gayardon, A. (2020). Free Higher Education, Myths and Realities. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 527-531). Dordrecht: Springer.
13. Guri-Rosenblit, S., Šebková, H., & Teichler, U. (2007). Massification and Diversity of Higher Education Systems: Interplay of Complex Dimensions. Higher Education Policy(20), 373-389.
14. Hamman, J., & Beljean, S. (2020). Academic Drift. In P. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 28-34). Dordrecht: Springer.
15. Herbst, M. (2020). Performance-Based Funding, Higher Education in Europe. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 2227-2235). Dordrecht: Springer.
16. Johnstone, B. (2002). Challenges of Financial Austerity: Imperatives and Limitations of Revenue Diversification in Higher Education. The Welsh Journal of Education , 11(1), 18-36.
17. Johnstone, B. (2020). Cost-Sharing in Financing Higher Education. In P. N. Teixeira, & J. C. Shin (Eds.), The Encyclopedia of Higher Education Systems and Institutions (pp. 247-251). Dordrecht: Springer.
18. Johnstone, B. (2004). The economics and politics of cost sharing in higher education: comparative perspectives. Economics of Education Review, 23(4), 403-410.
19. Jongbloed, B. (2004). Regulation and Competition in Higher Education. In P. Teixera, B. Jongbloed, A. Amaral, & D. Dill (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 87-113). Dodrecht: Kluwer Academic Publishing.
20. Jongbloed, B. (2010). Funding Higher Education: A View Across Europe. European Center for Strategic Management of Universities. ESMU.
21. Jongbloed, B. (2020a). Economic Perspectives, Research in Higher Education. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 342-350). Dordrecht: Springer.
22. Jongbloed, B. (2020b). Public Funding of Higher Education, Europe. In P. N. Teixeira, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 2354-2364). Dordrecht: Springer.
23. Jooste, N. (2020). Internationalization of Higher Education, Emerging Economy Perspectives. In P. N. Teixeira, & J. C. Shing (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 1904-1920). Dordrecht: Springer.
24. Leach, L. (2013). Participation and Equity in Higher Education: Are We Going Back to the Future? Oxford Review of education, 39(2), 267-286.
25. Massy, F. W. (2004). Markets in higher education: do they promote internal efficiency? In P. Teixeira, B. Jongbloed, A. Amaral, & D. Dill (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 13-37). Dordrecht: Kluwer Academic Publishings.
26. Mendiolla, A. G. (2012). State and Market in Higher Education Reforms: Overview of the Issues . In H. G. Schuetze, & A. G. Mendiola (Eds.), State and Market in Higher Education Reforms Trends, Policies and Experiences in Comparative Perspective (pp. 7-25). Rotterdam: Sense Publishers.
27. Mikesell, J. L. (2011). Fiscal Administration, eighth edition. (pp. 1-37). Wadsworth: Cengage Learning.
28. OECD. (2017). Education at a Glance 2017: OECD indicators. Retrieved at https://www.oecd-ilibrary.org/education/education-at-a-glance-2017_eag-2017-en
29. OECD. (2020). Education at a Glance 2020: OECD indicators. Retrieved at https://doi.org/10.1787/69096873-en
30. Panigrahi, J. (2018). Financing of Higher Education Institutions: Access to Funds and Issues of Equity. In I. BenDavid-Hadar (Ed.), Education Finance, Equality, and Equity (pp. 113-135). Springer.
31. Sá, C., & Sá, C. (2020). Economic Determinants of Higher Education Demand. In P. N. Teixeira, & J. C. Shin (Eds.), The Encyclopedia of Higher Education Systems and Institutions (pp. 338-341). Dordrecht: Springer.
32. Sporn, B. (2020). Competition in Higher Education. In P. N. Teixera, & J. C. Shin (Eds.), The International Encyclopedia of Higher Education Systems and Institutions (pp. 224-227). Dordrecht: Springer.
33. Spring, J. (2015). Economization of Education. Human Capital, Global Corporations, Skills-Based Schooling. New York: Routledge.
34. Teixera, P., Jongbloed, B., Amaral, A., & Dill, D. (2004). Introduction. In P. Teixera, B. Jongbloed, A. Amaral, & D. Dill (Eds.), Markets in Higher Education: Rhetoric or Reality? (pp. 1-13). Dordrecht: Kluwer Academic Publishers.
35. Teixera, P., Kim, S.,Gilani, Z.,Landoni, P. (2017). Changing the Public-Private Mix in Higher Education. In P. Teixeira, S. Kim, Z. Gilani, P. Landoni (Eds.), Rethinking the Public-Private Mix in Higher Education, Global Trends and National Policy Challenges. (pp. 165-177). Roterdam: Sense Publishers.
36. Teixera, P., Landoni, P. (2017). The Rise of Private Higher Education, Patterns of Development and Regulatory Challenges. In P. Teixeira, S. Kim, Z. Gilani, P. Landoni (Eds.), Rethinking the Public-Private Mix in Higher Education, Global Trends and National Policy Challenges. (pp. 21-35). Roterdam: Sense Publishers.
37. Toutkoushian, R. K., & Paulsen, M. B. (2016). Overview of Economic Reasoning and Terminology. In R. K. Toutkoushian, & M. B. Paulsen, Economics of Higher Education. Backgrounds, Concepts, and Applications. Springer.
Published
2022-06-30
How to Cite
Gabrichidze, T. (2022). Higher Education Funding Strategies: Towards Equity, Efficiency, and Quality. European Scientific Journal, ESJ, 18(19), 20. https://doi.org/10.19044/esj.2022.v18n19p20
Section
ESJ Social Sciences
Copyright (c) 2022 Tinatin Gabrichidze
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
.jpg)
