Human capital formation under neo-liberalism: the legacy of vocational education training in Australasia and implications for the Asia-Pacific region

Abstract

This appraisal considers the role and impact of vocational education and training (VET) in Australia and New Zealand, and suggests directions such policy might take in other Asia-Pacific countries. It identifies key issues and constraints in making VET more responsive to emerging labour market needs in the region as an important factor in sustaining high economic growth. It focuses on the way in which the demands of the government, industry, trainees, and, in particular, shifts in political ideology that have influenced the education and training sectors in both countries. It addresses points of specific relevance for the delivery of VET in the broader Asia-Pacific context and concludes with a consideration of lessons and experiences of Australia and New Zealand with VET that may hold for other countries in the region in formulating priorities and implementing strategies in meeting their current and emerging needs for skills development.

Keywords:

• Human capital formation
• inequality
• skills development
• neo-liberalism
• vocational education and training
• New Zealand
• Australia