Assessing the impact of higher education competitiveness on the level of socio-economic development of a country
-
DOIhttp://dx.doi.org/10.21511/ppm.19(2).2021.30
-
Article InfoVolume 19 2021, Issue #2, pp. 370-383
- Cited by
- 1010 Views
-
476 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
The study is devoted to the investigation of the educational determinants as components in shaping the level of socio-economic development of countries around the world, including assessment of the impact of national higher education system development indicators on the determinants of economic development, in particular macroeconomic, innovation, and technology determinants.
Based on the grouping of 50 countries, a matrix of relationships between the Universitas 21 index and global competitiveness index was constructed. It is determined that despite the close correlation between the indices as a whole (0.96), there is a certain differentiation of influence in groups. The high impact of education on global competitiveness (0.76) was found in the group of countries with a medium level of competitiveness, moderate impact (0.54) – in the group of highly competitive countries, weak impact (0.38) – in the group of countries with a low level of competitiveness. Based on the correlation-regression analysis, the study proposes a structural-logical graph of the relationship between educational and economic indicators and quantifies it accordingly. The results show that the level of higher education competitiveness is closely correlated with such indicators as the level of global innovation development (0.8 over the period 2012-2020), the level of the knowledge intensity of GDP (0.73), and the level of socio-economic development (0.75). The results will allow changes in education indicators to be taken into account in the context of their impact on economic development and global development strategies.
- Keywords
-
JEL Classification (Paper profile tab)I25, O10, C10
-
References25
-
Tables7
-
Figures2
-
- Figure 1. Structural and logical relationships in the system for assessing the impact of education system development and economic security
- Figure 2. Correlation between the level of competitiveness of U21 higher education systems and socio-economic development indicators
-
- Table 1. Countries with the highest level of higher education competitiveness in 2012–2020
- Table 2. Grouping of countries by U21 and GCI
- Table 3. Country distribution matrix based on the relationship between the level of higher education competitiveness and global competitiveness
- Table 4. Dynamics of correlation indices between the U21 higher education competitiveness index and selected economic development indicators
- Table 5. Economic development indicators for the sample countries
- Table 6. Correlation indices between the quality index of higher education (GCI component) and selected indicators of economic development
- Table 7. Correlation indices between the higher education development index (GII component) and selected indicators of economic development
-
- Adeniyi, O., Ajayi, P. I., & Adedeji, A. A. (2021). Education and inclusive growth in West Africa. Journal of Economics and Development, 23(2), 163-183.
- Bektur, Ç., & Aydin, M. (2020). The Impact of Higher Education on Economic Growth: Evidence from Emerging Countries. In H. Uzul (Ed.), Recent Advances in Social Science, Education and Humanities Research (pp. 275-286). Gece.
- Bilbokaite, R., & Bilbokaitė-Skiauterienė, I. (2018). The impact of higher education on the region. Proceedings of 12th International Technology, Education and Development Conference, 8676-8681. Valencia, Spain.
- Bileviciute, E., Draksas, R., Nevera, A., & Vainiute, M. (2019). Competitiveness in Higher Education: The Case of University Management. Journal of Competitiveness, 11(4), 5-21.
- Bulatova, O., & Hrybinenko, O. (2020). Effect of the education and healthcare systems on the social security level in the context of global goals of sustainable development. Journal of European Economy, 19(1), 26-46.
- Castro, D., & Tomàs-Folch, M. (2015) Trends of Higher Education Rankings. The International Journal of Learning in Higher Education, 21(3-4), 1-12.
- Global Innovation Index. (2020). Global Innovation Index Report 2020.
- Habibi, F., & Zabardast, M. A. (2020) Digitalization, education and economic growth: A comparative analysis of Middle East and OECD countries. Technology in Society, 63, 101370.
- Kohoutek, J., Pinheiro, R., Čábelková, I., & Šmídová, M. (2017). The Role of Higher Education in the Socio-Economic Development of Peripheral Regions. Higher Education Policy, 30, 401-403.
- Krstić, M., Filipe, J. A., & Chavaglia, J. (2020). Higher Education as a Determinant of the Competitiveness and Sustainable Development of an Economy. Sustainability, 12(16), 6607.
- Levchenko, O., Levchenko, A., Horpynchenko, O., & Tsarenko, I. (2017). The impact of higher education on national economic and social development: comparative analysis. Journal of Applied Economic Sciences, XII(3(49)), 850-862.
- Lopez-Leyva, S., & Rhoades, G. (2016) Country Competitiveness Relationship with Higher Education Indicators. Journal of Technology Management & Innovation, 11(4).
- Maneejuk, P., & Yamaka, W. (2021) The Impact of Higher Education on Economic Growth in ASEAN-5 Countries. Sustainability, 13(2), 1-28.
- Marchenko, O., & Sydorenko, N. (2019). Higher education in the globalized world: modern trends in management, funding and quality assurance. Economic Annals-XXI, 179(9-10), 53-65.
- Marquez-Ramos, L., & Mourelle, E. (2019). Education and economic growth: an empirical analysis of nonlinearities. Applied Economic Analysis, 27(79), 21-45.
- McMahon, W. W. (2018). The total return to higher education: Is there underinvestment for economic growth and development? The Quarterly Review of Economics and Finance, 70, 90-111.
- Neamtu, D., & Burac, D. (2015) The higher education, factor of economic and social progress. The 9th International Technology, Education and Development Conference, 4328-4337. Madrid, Spain.
- Rokanuzzaman, M. (2016). Impact of Higher Education on National Economic Development. International Conference on Business Management, Economics and Social Sciences. Uttara, Dhaka.
- Stimac, H., Drvenkar, N., & Ham, M. (2015). Higher education spillover - The highway to regional success. Ekonomski Vjesnik /Econviews - Review of Contemporary Business, Entrepreneurship and Economic Issues, 28(2), 567-580.
- The World Bank. (2021a). Education.
- The World Bank. (2021b). Open data.
- The World Bank. (2021c). School enrollment.
- Universitas21. (2021a). About Us.
- Universitas21. (2021b). Ranking of National Higher Education Systems.
- World Economic Forum. (2020). Global Competitiveness Report Special Edition 2020: How Countries are Performing on the Road to Recovery.