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This paper investigates the macroeconomic determinants of first enrollment in private higher education institutions, as a dependent variable, for 21 Departments of Colombia plus the capital city of Bogotá from 2005 to 2020. The bases of the human capital theory were contrasted with the empirical evidence for the case studied, and the effect of currency devaluation represents a new contribution to the literature. We used the Prais-Winsten methodology with corrected standard errors and first-order autocorrelation correction to estimate the econometric model. The results suggest that favorable variations in GDP, wage expectations, and population positively impact the dependent variable. However, the devaluation of the Colombian peso against the US dollar, represented in the trm variable, has a negative effect, i.e., the devaluation of the peso would lead to a reduction in the dependent variable. [ABSTRACT FROM AUTHOR]

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Copyright of Cuadernos de Administración (01203592) is the property of Pontificia Universidad Javeriana and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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Copyright of Lecturas de Economia is the property of Universidad de Antioquia, Facultad de Ciencias Economicas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

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