What is the impact of education and training on economic growth, company performance and individual careers ? This report gathers contributions from renowned experts on research for the diverse benefits of education, training and skiIls. The picture is completed by case studies on the impact of active labour market policies. This publication is part of the background report to Cedefop's third research report, dedicated to Evaluation and impact of education and training. The other volumes address the Foundations of evaluation and impact research and the evaluation of systems and programmes. The third research report is complemented by a synthesis report which provides a comprehensive review of types and results of evaluation and impact research in Europe and beyond. The series of Cedefop reports on vocational education and training research have been published since 1998. They take into account the wider context in which vocational education and training is embedded and discuss the implications for policy, practice and future research.