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dc.titleA World of Transformation: Moving from Degrees to Skills-Based Alternative Credentials
dc.contributor.authorMateo-Berganza Díaz, María Mercedes
dc.contributor.authorLim, JungKyu Rhys
dc.contributor.authorCardenas Navia, Isabel
dc.contributor.authorElzey, Karen
dc.contributor.orgunitEducation Division
dc.coverageLatin America and the Caribbean
dc.date.available2022-12-15T00:12:00
dc.date.issue2022-12-01T00:12:00
dc.description.abstractPostsecondary education is undergoing a period of profound change. One of the most significant changes is the emergence of skills-based, non-degree, alternative credentials as both complements and alternatives to traditional degrees. Several factors have combined to favor these shorter, less expensive, and more versatile ways to gain knowledge and skills for work. The factors include the rigidity and high cost of traditional degrees; the fact that traditional institutions are failing to equip many graduates with the skills they need; and the need to rapidly upskill and reskill workers to meet the increasingly complex demands of modern economies. This report summarizes evidence suggesting a decrease in the value of degrees as a signaling mechanism in the labor market. It also identifies the benefits of alternative, non-degree credentials and makes recommendations on ways to increase their value and acceptance in the market. It remains to be seen whether non-degree alternative credentials are a short-term strategy to close the skills gaps and deal with the transition to adaptive and qualified labor, or a permanent strategy of human capital development.
dc.format.extent112
dc.identifier.doihttp://dx.doi.org/10.18235/0004299
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/A-World-of-Transformation-Moving-from-Degrees-to-Skills-Based-Alternative-Credentials.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/spanish/document/Un-mundo-en-transformacion-de-las-titulaciones-tradicionales-a-las-credenciales-alternativas-basadas-en-habilidades.pdf
dc.identifier.urlhttps://publications.iadb.org/publications/portuguese/document/Um-mundo-em-transformaco-de-diplomas-a-certificaces-alternativas-baseadas-em-habilidades.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectEducation
dc.subjectHigher Education
dc.subjectSkills
dc.subjectEducational Institution
dc.subjectLabor
dc.subjectLabor Force
dc.subjectLearning
dc.subjectIndustry
dc.subjectLabor Market
dc.subjectWorkforce and Employment
dc.subjectWage
dc.subjectMOOCs
dc.subjectAcademic Degree
dc.subjectPublic University
dc.subjectPrivate University
dc.subjectLearning Skill
dc.subjectSkill Gap
dc.subjectDigital Skill
dc.subjectLifelong Learning
dc.subject21st-Century Skill
dc.subjectSkills Need
dc.subjectBlended Learning
dc.subjectDigital Badge
dc.subjectVocational and Technical Education
dc.subjectInteractive Learning
dc.subjectDigital Diploma
dc.subjectDigital Training
dc.subjectLearning Gap
dc.subjectCoding Bootcamp
dc.subjectE-Learning
dc.subjectHuman Capital Investment
dc.subjectPandemic
dc.subjectCoronavirus
dc.subject.jelcodeI20 - Education and Research Institutions: General
dc.subject.jelcodeI23 - Higher Education • Research Institutions
dc.subject.jelcodeI28 - Government Policy
dc.subject.jelcodeJ01 - Labor Economics: General
dc.subject.jelcodeJ08 - Labor Economics Policies
dc.subject.keywordsNon-degree credentials;alternative credentials;internships;MOOCs;coding bootcamp;apprenticeships;online degrees;micro-credentials;certification;certificate;skills gaps;skills need;21st century skills;labor market;labor force;COVID-19;academic degrees;higher education;human capital development;upskilling;badge;license;signaling;skills;public university;private university;partnerships
idb.identifier.pubnumberIDB-TN-02347
idb.operationRG-T3591
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