In Conclusion
The literature suggests strong externalities and public good characteristics
associated with public and private higher education, and
both sectors serve as engines of economic growth, especially in the
context of expanding markets. Deliberate public policy that causes
both sectors to either withdraw or become non-responsive to market
needs is not only counterproductive, but is tantamount to denying
prospects for further economic growth.
Governments and public authorities can be direct providers of
higher education, offer finance for its provision, or do both. They can
develop legal and regulatory policies to promote and shape the higher
education system and regulate both public and private institutions,
even when these might be privately licensed or funded. Whatever
their policies, public authorities must be able to demonstrate that
they are using public resources in a way that offers societal benefits
that the private sector cannot supply. With appropriate oversight and
quality assurance, private institutions can supply these services.
Accreditation as a public policy issue has recently gained importance
as the public sector in transition countries has taken on greater
concern for quality assurance. However, the topics of institutional
assessment and accountability in both sectors have been little
explored in most transition countries. There is much to gain from this
institutional responsibility as countries undertake change, development
and transition.