Examines the link between the institutional structure of the market for training and economic performance. Suggests that the market for training has a major potential for failure and that institutional structures are needed to mitigate this. Outlines the main structures which have been developed in different countries. Concludes that there is no single institutional arrangement which is optimal but that countries performing best internationally seem to be those which take the potential for failure most seriously.
McNabb, R. and Whitfield, K. (1994), "Market Failure, Institutional Structure and Skill‐formation", International Journal of Manpower, Vol. 15 No. 5, pp. 5-15. https://doi.org/10.1108/01437729410061401Download as .RIS
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