Local Income Generation and Regional Income Redistribution in a System of Public Higher Education

Abstract

In the past fifteen years or so considerable attention has been focused on the application of regional multiplier analysis to the estimation of regional economic parameters, i.e., regional economic impacts. With some variations, two general approaches have emerged in the literature-the input-output approach and the economic base approach. It has generally been concluded that the input-output approach is more sophisticated and comprehensive, since it requires the development of a complete interindustry model. The majority of regional economic impact studies still employ the economic base approach, however, because input-output studies typically entail prohibitive costs and data problems.1 More recently, conventional regional multiplier methods have been used in the analysis of two specific questions: (1) the economic impact of public sector institutions or projects [7, 8]; and (2) the distribution of economic benefits from public programs among incidence groups [6, 1 1]. The former has often become essential in project evaluation, and the latter has received more emphasis as governmental developmental planning has emerged as a policy priority. One important outgrowth of these questions has been the recent attention given to estimating local economic impacts of institutions of higher education, fostered in large part by the American Council on Education's development in 1971 of a comprehensive methodology for estimating such impacts [3].2

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