The purpose of this article is to empirically test the role of talent in the economic development of countries in the modern world. As the main research method, the authors use regression analysis, which involved variables characterizing the talent competitiveness of countries, as well as indicators of countries' economic development. The authors use two indicators to empirically measure the economic development of countries in the modern world. The first is a static indicator, GDP per capita, which measures the economic performance of the world's countries. Second, the dynamic indicator of the average change in GDP per capita over the previous 10 years measures the economic growth of the world's countries. Correlation analysis is used as an additional research method. The results showed that talent is a stable and practically the main determinant of such an important element of the economic development of countries as their achieved state of economic development. At the same time, the talent competitiveness of countries is not the engine of their short-term economic growth. For economic growth, it is enough to attract talent from outside, but for the economic development of the modern world's countries to be sustainable, it is also necessary to be able to grow talents and create conditions for their efficient work within the country. All of these elements are included in the Global Talent Competitiveness Index. Based on empirical results, the authors propose to replace the Global Competitiveness Index (GCI) with the Global Talent Competitiveness Index (GTCI) in research practice. Then the talent will also be included in the conceptual understanding of countries' competitiveness in the modern world.
The essential definition of the promotion of smart regional growth is local resource, potential, exploration of operational mechanisms. That is in order to develop the understanding of local resource feasibility and the community activities. It is important to develop cross-sectoral cooperation, which is focused on non-technological, social and on the ecological innovation processes in connection with entrepreneurship. Social entrepreneurship is an essential mechanism in economic activity balancing, while creating social values that encourage the local community to participate in many areas and reduce socio-economic disparities. The ‘’Traditional’’ entrepreneur whose main desire is to create a product, find their client and thus, earn money, differs from a social businessman. An entrepreneur who has chosen the social niche, firstly, solves a social problem. In Latvia, social entrepreneurship is becoming more popular. Help and consultation at this point is provided by the Latvian entrepreneurship association (LEA), which has been in operation since the year of 2015. The region of Latgale is also becoming more popular in this field. In order to evaluate social entrepreneurship feasibility and to determine factors in the region of Latgale, cross-disciplinary research has to be carried out. Moreover, research and development in this area involves the involvement of a wide variety of stakeholders: NGO (non-governmental organisation), state, business, representatives of the public.
The role of higher education in shaping global talent competitiveness and growth in the modern world is an excellent area of interest. To meet the growing demand for talented human capital in today's modern industries, HEIs must mobilize and standardize policies and develop programs for talent management among students as the future workforce. This study aimed to analyze the role of HEI in shaping talent competitiveness and growth. Selected higher education indicators that characterize the talent and growth development of at least 117 countries were analyzed using R version 4.1.3. The Global Talent Competitiveness Index (GTCI) was used to measure the talent competitiveness of the selected countries. To measure talent growth, we used the average annual change in the GTCI over the last five years; hence secondary data on the role of higher education in shaping talent competitiveness and growth were used. Various academic factors and skills that stimulate global talent competitiveness and growth are outlined in this study. Considering the factors that affect talent competitiveness and growth globally, colleges and universities place a strong emphasis on developing graduates' skill sets, advocating for, and organizing aspects in terms of mean years of schooling, including professional development, internet, and digital skills, and getting students ready for international co-invention and scientific publication.
Using primarily comparative evidence of mental health situation during the COVID-19 pandemic between a Southeast Asian and a European Country, this study was conducted among public and private schools in the Philippines and Latvia, Europe, amidst the COVID-19 pandemic utilizing a standardized Depression, Anxiety, and Stress (DAS) questionnaire. Findings revealed that Latvian teachers experienced higher cases of depression, anxiety, and stress than Filipino teachers. In contrast, Latvian students exhibit lower cases of depression and anxiety than Filipino students. Thus, mental health conditions of both teachers and students of both countries must be prioritized by conducting various programs and activities which further demands that mental health must be considered in academic institutions because when human resource knows how to deal with depression, anxiety, and stress, they also make better choices in life which will make them corollarily become even more productive at work.
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