Higher education as a factor of socio-economic performance and development

Volchik, Vyacheslav; Oganesyan, Anna; Olejarz, Tadeusz

doi:10.14254/2071-8330.2018/11-4/23

Cited by 28 publications

(21 citation statements)

References 45 publications

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“…Many economists have shown evidence supporting the potential impact of higher education in both developing and developed economies (e.g., [1][2][3]). However, relatively few studies focus on how higher education is expanded and utilized [4,5].…”

Section: Introductionmentioning

confidence: 99%

The Impact of Higher Education on Economic Growth in ASEAN-5 Countries

Maneejuk

Yamaka

2021

Sustainability

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This study analyzed the nonlinear impacts of education, particularly higher education, on economic growth in the ASEAN-5 countries (i.e., Thailand, Indonesia, Malaysia, Singapore, and the Philippines) over the period 2000–2018. The impacts of education on economic growth are assessed through various education indicators, consisting of public expenditure on tertiary education per student, enrolment rates of primary, secondary, and tertiary levels, educated workforce, and the novel indicator of unemployment rates with advanced education. This study establishes nonlinear regression models—the time-series kink regression and the panel kink regression—to investigate the kink effects of education on the individual country’s economic growth and the ASEAN-5 region, respectively. There are three main findings. Firstly, the nonlinear effects of the government expenditure per tertiary student on economic growth are confirmed for the ASEAN-5 region. However, the impacts do not follow the law of diminishing returns. Secondly, our findings reveal that an increase in unemployment of advanced educated workers can positively or negatively impact economic growth, which requires an appropriate policy to handle the negative impacts. Lastly, secondary and higher education enrollment rates can contribute to the ASEAN-5’s economic growth (both the individual and regional levels). However, the regional analysis reveals that higher education impacts become twice as strong when the enrollment rates are greater than a certain level (a kink point). Therefore, we may conclude that secondary enrollment rates positively affect economic growth; however, higher education is the key to future growth and sustainability.

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Section: Introductionmentioning

confidence: 99%

The Impact of Higher Education on Economic Growth in ASEAN-5 Countries

Maneejuk

Yamaka

2021

Sustainability

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“…The policy definition and decision-making process in the development of professional retraining covers the collection, use and administration of resources, the main purpose of which should be to achieve the main goals of approved professional learning (trainings). According to Bodenhofer [6] and authors of paper [1,2,[17][18][19][20][21], the assessment of the financing system combines two main aspects: a) financial resources are secured by current or future revenues and b) revenues are determined by the institutional form and / or individual support provided by the current market size.…”

Section: Research Instrumentsmentioning

confidence: 99%

Analysis of the necessity and efficiency of the HEI diploma holder professional retraining needs in Adjara Autonomous Republic

Abuselidze

Davitadze

2020

E3S Web Conf.

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At the present stage, in the context of global economic and political problems, the educational space in countries with a small open economy is of particular importance, since it is recognized as one of the key elements of ensuring public welfare. In addition to the costs directly allocated to education in Georgia, the government finances various retraining courses, the need for which is due to the higher education programs which seem to be incompatible with the labour market. The purpose of this article is to determine the cost efficiency of retraining incurred by the state, and the reasons for these additional costs as well as the aspects of retraining (profession / qualification) provided to higher education diploma holders. This last group is of particular interest to us to determine what causes the need for services provided by the employment agency in the case of people with higher education which, possibly, leads us to gaps in study programs, which, in turn, can be caused by a) higher education programs, which cannot give graduates the proper skills; or/and b) the institution of higher education has not studied the required number of graduates/skills needed in the market (and determines the number of students according to its academic staff) and/or graduates with low academic performance (which are supported by the institution of higher education so as not to lose a voucher) need retraining.

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“…The relevance of ensuring leadership and competitiveness is primarily due to the increasing importance of higher education in terms of socio-economic performance and development (Volchik et al, 2018). It has a decisive influence on regions and countries' economic and innovative potential, reducing social inequality and achieving sustainable development, making this area a priority object of state policy (Tvaronavičienė et al, 2018).…”

Section: Literature Reviewmentioning

confidence: 99%

Analysis of key university leadership factors based on their international rankings (QS World University Rankings and Times Higher Education)

Polyakov

Bilozubenko

Korneyev

et al. 2020

Problems and Perspectives in Management

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In the context of globalization of the educational services market, competition between universities is becoming more intense. This manifests itself, among other things, in the struggle for positions in international university rankings. Given that universities are evaluated according to many criteria in such rankings, it becomes necessary to identify the most significant factors in determining their positions.This study aims to identify the key factors determining the world’s leading universities’ leadership in international university rankings. The numerical values of the criteria for compiling the QS World University Rankings (QS) and Times Higher Education (THE) rankings were an empirical basis for the study. The analysis covered the Top 50 universities (according to the QS ranking) and was conducted based on reports for 2020 and 2021.At first, clustering was carried out (method – k-means); the data set was the combination of numerical values of QS and THE criteria (six and five criteria, respectively). The universities were divided into three clusters in 2020 (23, 19, 8 universities) and 2021 (23, 17, 10 universities). This showed the universities’ leadership relative to each other for each year.At the second stage, classification processing was performed (method – decision trees). As a result, criteria combinations that give an absolute separation of all clusters (2020 – five combinations; 2021 – eight combinations) were identified. The obtained combinations largely determine universities’ affiliation to clusters; their criteria are recognized as key factors of their leadership in the rankings. This study’s results can serve as guidelines for improving universities’ positions in the rankings.

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Higher education as a factor of socio-economic performance and development

Cited by 28 publications

References 45 publications

The Impact of Higher Education on Economic Growth in ASEAN-5 Countries

The Impact of Higher Education on Economic Growth in ASEAN-5 Countries

Analysis of the necessity and efficiency of the HEI diploma holder professional retraining needs in Adjara Autonomous Republic

Analysis of key university leadership factors based on their international rankings (QS World University Rankings and Times Higher Education)

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