Like many developed countries, Spain has experienced a growth in the demand
for higher education over the last twenty years, despite diverse economic
cycles. Since this demand does not slow down in the medium term, the object
ive of this study is to analyse, from statistical labour force sources sinc
e 1987, two potential influences: family characteristics and labour market
signals.
The theoretical framework used here is the human capital theory, which is t
ested through discrete choice models where the selection process of young p
eople through the education system is considered. The chief results may be
summarised as follows: firstly, family characteristics are important elemen
ts in the demand for higher education, especially the mother's education at
tainment, which is even more determinant than that of the father. Secondly,
the labour market signals in Spain have an influence on the demand for hig
her education: as a signal of both the opportunity cost of finding a job if
not going to university and the employment expectations for each relevant
education level.