Assessing the impact of higher education competitiveness on the level of socio-economic development of a country

  • Received April 9, 2021;
    Accepted June 18, 2021;
    Published June 25, 2021
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  • Article Info
    Volume 19 2021, Issue #2, pp. 370-383
  • Cited by
    8 articles

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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.

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    • 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
    • Conceptualization
      Yurii Chentukov, Volodymyr Omelchenko
    • Data curation
      Yurii Chentukov
    • Investigation
      Yurii Chentukov, Volodymyr Omelchenko, Olha Zakharova, Tamara Nikolenko
    • Validation
      Yurii Chentukov
    • Writing – review & editing
      Yurii Chentukov, Volodymyr Omelchenko
    • Formal Analysis
      Olha Zakharova, Tamara Nikolenko
    • Methodology
      Olha Zakharova
    • Visualization
      Olha Zakharova, Tamara Nikolenko
    • Writing – original draft
      Olha Zakharova, Tamara Nikolenko
    • Project administration
      Tamara Nikolenko