A Country’s Economic Growth and Rankings of Higher Education Institutions: Is There a Relationship?

Abstract

The components of the chain of influence of the HEI ranking on the economic growth of the country are studied in the article. The relation between the keywords university, rankings and economic was found based on the bibliometric analysis. Based on correlation and regression analysis, there has been proved the relation between the components of interaction in the chain: Total overall ranking score of universities in the country – number of FTE students enrolled in country’s rated HEIs – number of country’s rated Universities – GDP of the country. The confirmation of the obtained calculations is a questionnaire survey carried out among the students of the HEIs. The results of the questionnaire survey indicate the existence of the influence of the HEI ranking on the number of students enrolled in educational institutions of the studied country. Thus, based on correlation and regression analysis and sociological research, the article proves the hypothesis about the existence of the influence of the HEI ranking on the economic growth of the country.