Volume 1, Number 2 (Fall) 1966
Grubel, Herbert G., and Anthony D. Scott. 1966. “The Cost of U.S. College Student Exchange Programs.” Journal of Human Resources 1(2): 81-98.
The aim of this paper is to estimate the social resource cost to the U.S. of being engaged in a world-wide foreign college student program. The second and third sections of the study present estimates of the value of resources "invested" in foreign students in the U.S. and in American students abroad. Part IV estimates the value of students not returning to their native countries after studies in the U.S. Finally, a balance sheet is constructed of the net cost of exchanges to the U.S., and this is brought into perspective with other economic magnitudes. A prima facie case is made for expanding the student programs.
Herbert Grubel is Professor of Finance at the University of Pennsylvania; Anthony Scott is Professor of Economics at the University of British Columbia. This paper is part of a more intensive study of the international flow of human capital. We thank Harry G. Johnson who, as the director of a Rockefeller research project in international trade, has provided us with financial support. T. W. Schultz has given us helpful advice and counsel.
© 2003 by the Board of Regents of the University of Wisconsin System
US ISSN 0022-166X