The research’s fundamental investigation elaborates on interactions between tertiary educational factors and Namibia’s sustainable economic development. Sequential mixed-research-method guides the investigation towards its results: A quantitative statistical data analysis enables the selection of interrelated educational and economic factors and monitors its development within Namibia’s last three decades. Subsequent qualitative interviews accumulate respondents’ subjective assessments that enable answering the fundamental interaction. Globally evident connections between a nation’s tertiary education system and its economic development are partially confirmed within Namibia. The domestic government recognizes the importance of education that represents a driving force for its sustainable economic development. Along with governmental NDP’s (National Development Program) and its long-term Vision 2030, Namibia is on the right track in transforming itself into a Knowledge-Based and Sustainable Economy. This transformation process increases human capital, growing GDP, and enhances domestic’s living standards. Namibia’s multiculturalism and its unequal resource distribution provoke difficulties for certain ethnicities accessing educational institutions. Namibia’s tertiary education system’s other challenges are missing infrastructures, lacking curricula’ quality, and absent international expertise. The authors’ findings suggest that, due to Namibia’s late independence, there is a substantial need to catch up in creating a Namibian identity. Socioeconomic actions would enhance domestic’s self-esteem and would enable the development of sustainable economic sectors. Raising the Namibian tertiary education system’s educational quality and enhancing its access could lead to diversification of economic sectors, accelerating its internationalization process. Besides that, Namibia has to face numerous challenges, including corruption, unemployment, and multidimensional poverty, that interact with its tertiary education system.
This chapter consists of two parts. In the first theoretical part, economic culture and economic performance are presented. Economic performance and development of market economy institutions depend on many factors. It became evident that economic and cultural factors play an important role. There is a lot of evidence that this role has been underconceptualized and analytically-experimentally underexploited. In the second empirical part, authors dive into the complex topic of Namibia's cultural changing process, combined with its economic development. Such development is only traceable if the historic cornerstones of the nation (e.g., colonization, genocide, apartheid, foreign administration, and independence) are taken under consideration. The emerging social and economic challenges, e.g., poverty, gender, and social inequalities as well as unemployment, will be monitored. To describe Namibia's economic development, several indices, for instance, foreign direct investment, gross domestic product, and Hofstede six-dimension model, will be applied. Furthermore, indices of Namibia's cultural development (CDIS) will be presented and analyzed. While demonstrating Namibia's significant cultural and economic aspects, perspectives in regard to the well-being of the next generations are incorporated.
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