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

Abstract

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.

RETRACTED: An empirical analysis of the impact of higher education on economic growth: The case of China

“…Likewise, a 1 percentage point contraction in Higher Education Progress (HEP − ) significantly reduces economic growth by 0.337 percentage points. The findings of this empirical study on the positive and significant impact of higher education progress on economic growth are in good agreement with those of Habibi and Zabardast ( 2020 ), Hamdan et al ( 2020 ), Hussaini ( 2020 ), Martínez-Campillo and Fernández-Santos ( 2020 ), Abad-Segura and González-Zamar ( 2021 ), Chentukov et al ( 2021 ), Maneejuk and Yamaka ( 2021 ), and Agasisti and Bertoletti ( 2022 ). The asymmetric effect of HEPt-1 obviously illustrates that changes in economic growth coincide with increases or decreases in HEPt-1.…”

The quality of higher education and its funding in countries with different levels of socio-economic development

“…addition, a significant direct correlation between the quality of higher education, the human development index, and the global competitiveness index was proved. This result confirms Verner (2011), Satsyk (2015), and Chentukov et al (2021). However, it does not allow estimating the level of spending on higher education in countries with a high or low level of socio-economic development.…”

Whether intelligentization promotes regional industrial competitiveness: Evidence from China

“…In econometric models, not only the influence of core variables on the explained variables, but also the influence of other factors must be considered to ensure the accuracy of the results. In this paper, we refer to relevant literature on influencing factors of industrial competition, and select education level ( Ec ), trade level ( Tra ), government education expenditure ( Es ), capital stock ( Hc ) and urbanization level ( Ur ) as control variables [ 115 – 119 ]. Table 3 shows the specific contents of control variables.…”