Sustainable economic growth and innovative development of educational systems

Abstract

Abstract. This paper is focused on the issue how educational systems might increase the economic, innovative and business potential of the regional centres and contribute to the sustainable economic development. Rapidly growing economies are marked by social fragmentation and economic divisions but have the potential to become the drivers for shrinking social divisions and creating opportunities for all the citizens. Carefully designed educational policies becomes a solution for most of the economic and social problems by offering formal and non-formal educational activities. Policy-makers in the educational realm learn to engage with the realities of social exclusion, political alienation, and economic marginalization -through both public policy and private initiatives. Educational initiatives and policies across might include carefully orchestrated public policies, spending the money from the structural funds all aimed at stabilizing communities and establishing cooperation and integration, non-formal educational initiatives to reduce marginalization, or expansion of the formal school system aimed at raising aspirations.

Sources of Economic Growth: A Global Perspective

“…Moreover, in surveys conducted exclusively for developed economies, expenditure on education had a considerably higher position in the probability rankings of economic determinants (Gazda and Puziak [60]). Despite the fact that this variable achieved the sixth position in the ranking among all analyzed countries, it suggests the need to monitor this variable in the future, so expenditure on education should be taken into account when planning sustainable economic policies to stimulate economic growth (Armeanu et al [6], Tvaronavičienė et al [7]). All the posterior results were consistent with growth and convergence theory (Barro and Sala-i-Martin [2], Gazda and Puziak [60]) and general economic empirics (Sala-i-Martin et al [19]).…”

“…Economic growth has been one of the most important economic issues in the literature since the 1980s (Barro and Sala-i-Martin [1], Barro and Sala-i-Martin [2], Sala-i-Martin [3], Sala-i-Martin [4], Sala-i-Martin and Snowdon [5]). The knowledge about which factors account for economic growth would make it possible to form efficient and sustainable economic policies (Armeanu et al [6], Tvaronavičienė et al [7], Manso et al [8], Brock et al [9], Kraay and Tawara [10], Musai and Mehrara [11], Bergh and Henrekson [12]). Furthermore, it could facilitate the economic growth of currently underdeveloped regions (Milczarek [13], Thomas and Brycz [14], Comes et al [15], Sala-i-Martin [16]).…”

TFP spillover effects via trade and FDI channels

“…Distances from technological frontier (Colino, Benito-Osorio, & Rueda-Armengot, 2014;)our proxy is the TFP level at current PPPs (USA ¼ 1); Human capital (Tientao, Legros, & Pichery, 2016;Tvaronavi cien_ e, Tarkhanova, & Durglishvili, 2018;Vandenbussche, Aghion, & Meghir, 2006)in our research expressed as mean years of schooling; Institutions (Balcerzak & Pietrzak, 2016;Coe et al, 2009; Janto n-Drozdowska & Majewska, 2015)in our study, the institutional environment is measured by selected governance indices of the World Bank: government effectiveness and political stability; Trade openness (Danquah et al, 2014;Filippetti et al, 2017;Fracasso et al, 2015) measured with the use of export of goods and services as percentage of GDP, import of goods and services as percentage of GDP; Knowledge stock (Coe & Helpman, 1995;Fracasso & Vittucci Marzetti, 2015;Madsen, 2008;Tientao et al, 2016) measured with the use of patent applications; Knowledge investmentsmeasured with the research and development expenditures as percentage of GDP; Capital stockquantified directly as a capital stock at current PPPs.…”

The impact of innovative professional qualifications on the sense of employment security: Evidence from Poland

“…In contemporary innovative economic systems, the quality of human capital and the use of this capital at the labor market is a very important development factor (Lee and Rodríguez-Pose, 2016). The increase of the economic, innovative and business potential has a strong links with innovative development of educational systems (Tvaronavičienė et al, 2018). Employers are increasingly aware of the importance of employees' qualifications at the highly competitive markets, both domestic and global.…”