scholarly journals HIGHER EDUCATION AND ECONOMIC GROWTH IN NORTH MACEDONIA: EVIDENCE FROM CAUSALITY TESTING AND COVID-19 CHALLENGES

2020 ◽  
Author(s):  
Marijana Cvetanoska ◽  
Predrag Trpeski
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Human Capital ◽  
Economic Value ◽  
Policy Makers ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Dynamic Methods ◽  
Education And Economic Growth

The link between education and economic growth has been the subject of public debate, and it has been widespread interest among economists in solving key economic problems. As a determinant of human capital, which is one of the factors of production, education has its own contribution in the process of globalization where economies are transformed and based on knowledge. Particularly higher education has a high economic value because it causes the formation of human capital and it is often seen as vital for a continued growth performance, prosperity, and competitiveness in national and global economies. Higher education contributes to the economic growth by producing higher-level skills and competencies needed for a shift towards knowledge-based economy. For these reasons, countries all over the world especially the developing countries such as North Macedonia, are giving higher education special attention to facilitate the economic growth. In this study, the co-integration between higher education and economic growth in North Macedonia is analyzed using dynamic methods. Toda Yamamoto's approach for Granger's causality (TY) developed by Toda and Yamamoto (1995) is used to analyze the causality between economic growth and higher education. For this aim, a bivariate VAR model is constructed. This study provides an evidence for the causality between higher education and economic growth in North Macedonia. Moreover, a key role of higher education institutions is to drive innovation, with the aim of finding solutions to global challenges. Today, in response to the COVID-19 pandemic, there is a danger that COVID-19 will destabilize this educational level, with serious consequences. Therefore, the challenges that higher education is faced are emphasized in order to help education institutions and policy-makers to reflect on them and be prepared to address them, while re-emphasizing the role of higher education in supporting to conform the post-COVID19 pandemic.

Factors of slowing down the economic growth of modern Russia

2021 ◽  
pp. 29-32
Author(s):  
Elena Basovskaya ◽  
Leonid Basovskiy
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Human Capital ◽  
General Education ◽  
Education System ◽  
Slowing Down ◽  
Russian Economy ◽  
Federal Laws ◽  
Excessive Number

The study of the influence of the Federal laws adopted in Russia on the rate of economic growth made it possible to establish that since 2005, lawmaking has hindered the growth of the Russian economy. In the work, a model of the dependence of the rates of economic growth on the number of employees of state authorities and local self-government obtained. The model shows that the number of employees of state authorities and local self-government determines the rate of economic growth by one third, and the increase in their number causes a decrease in the rate of economic growth. Excessive number of employees of state authorities and local self-government, enforcing these laws, inhibits economic growth. To assess the possibility of increasing human capital due to the functioning of the education system, the value of the «education premium» estimated. The obtained results of the assessment of the «premium for education» indicate that the education system in modern Russia is losing its role as a means of forming human capital. In the period from 2009 to 2019, premiums for secondary vocational, secondary (complete) general and basic general education were completely lost. The premium for higher education has more than halved; by 2027, the premium for higher education for employed workers will also be completely lost. The loss by the institution of education of the role of a means of forming human capital is due to continuous ineffective reforms in education.

scholarly journals How entrepreneurship, culture and universities influence the geographical distribution of UK talent and city growth

2017 ◽  
Vol 36 (2) ◽  
pp. 178-195 ◽  
Author(s):  
Marc Cowling ◽  
Neil Lee
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Economic Value ◽  
Value Added ◽  
Content Type ◽  
Knowledge Based ◽  
Economic Landscape ◽  
The Uk ◽  
The City ◽  
Innovative Capacity

Purpose The creation and distribution of human capital, often termed talent, has been recognised in economic geography as an important factor in the locational decisions of firms (Florida, 2002), and at a more general level as a key driver of economic growth (Romer, 1990). The purpose of this paper is to consider how talent is created and distributed across the cities of the UK and the key factors which are driving this spatial distribution. They also consider what the economic outcomes of these disparities are for cities. Design/methodology/approach The multivariate models can estimate the dynamic inter-relationships between human capital (talent), innovative capacity, and economic value added. These can be estimated, using talent as an example, in the form: human capital measurei =α0i+α1i innovative capacity +α2i quality of life + α3i labour market indicators + α4i economic indicators + α5i HEI indicators + β6i population demographics + β7i population + υi. Findings The first finding is that talent is unequally distributed across cities, with some having three times more highly educated workers than others. Talent concentration at the city level is associated with entrepreneurial activity, culture, the presence of a university, and to a lesser degree the housing market. This feeds into more knowledge-based industry, which is associated with higher gross value added. Research limitations/implications The research is limited in a practical sense by the fact that UK data at this level have only become available quite recently. Thus, it is only possible to capture talent flows and city growth in a relatively small window. But the prospects going forward will allow more detailed analysis at the city level of the relationship between talent flows and local economic growth. And additional insights could be considered relating to the on-going changes in the UK university system. Practical implications The question of whether universities are simply producers of talent or play a much broader and deeper role in the socio-economic landscape and outcomes of cities is an open one. This research has identified what the key drivers of city level economic growth and knowledge creation are, and sought to explain why some cities are capable of attracting and harnessing three times more talent than other cities. This has significant implications for the future development of UK cities and for those seeking to address these imbalances. Social implications Universities are a major economic agent in their own right, but they are increasingly being asked to play a wider role in local economic development. The authors’ evidence suggests that universities do play a wider role in the growth and development of cities, but that there are large discrepancies in the subsequent spatial distribution of the talent they create. And this has significant implications for those seeking to address these imbalances and promote a broader and less unequal economic landscape. Originality/value The authors explore how cities create economic value via a process whereby talent is attracted and then this stimulates knowledge-based industry activity. The originality relates to several key aspects of the work. First, the authors look at the stock of talent, and then the authors explore how “new” talent from universities is attracted by looking at graduate flows around the cities of the UK, differentiating between top-level graduates and less talented graduates. The authors then allow a wide variety of economic, cultural, and population factors to influence the locational decision of talented people. The results highlight the complexity of this decision.

scholarly journals The Role Of Universities In Building A Knowledge-Based Economy In Saudi Arabia

2014 ◽  
Vol 13 (5) ◽  
pp. 1047 ◽  
Author(s):  
Mohamed Imam Salem
Keyword(s):  
Higher Education ◽  
Economic Development ◽  
Saudi Arabia ◽  
Growth And Development ◽  
Sustainable Growth ◽  
Developed Economies ◽  
Innovation Research ◽  
Knowledge Based ◽  
Knowledge Based Economy

A knowledge-based economy is one of the vital components of modern economies. Growth in most of the economies of the world, and most developed economies in particular, are increasingly based on knowledge. In a knowledge-based economy, economic development is dependent on investments in education, learning and training, among others. Universities are today becoming aware of the essential role that higher education plays in the construction of knowledge-based economies. The kingdom of Saudi Arabia (KSA) has adopted the drive toward a knowledge-based economy through focusing on the higher education sector. Saudi Universities are playing a pivotal role toward the Kingdom's transition into a knowledge-based economy and hence achieving economic growth and development. The purpose of this paper is to critically examine the important role that universities play in building a knowledge-based economy through innovation, research commercialization, and technology transfer as economic development policies. The role of universities in building a knowledge-based economy in Saudi Arabia is also investigated. The paper confirms that Saudi universities are considered as a very important entity in the aim for the Saudi economy to achieve sustainable growth and development.

scholarly journals ECONOMIC GROWTH, ENERGY CONSUMPTION AND HUMAN CAPITAL FORMATION: IMPLICATION FOR KNOWLEDGE-BASED ECONOMY

2020 ◽  
Vol 10 (1) ◽  
pp. 37-43 ◽  
Author(s):  
Bosede Comfort Olopade ◽  
Henry Okodua ◽  
Muyiwa Oladosun ◽  
Oluwatoyin Matthew ◽  
Ese Urhie ◽  
...  
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Energy Consumption ◽  
Capital Formation ◽  
Human Capital Formation ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
Growth Energy

scholarly journals KNOWLEDGE-BASED ECONOMY (KBE), KONVERGENSI, DAN PERTUMBUHAN EKONOMI : STUDI KASUS DI ASEAN PLUS THREE (PERIODE TAHUN 2001-2014)

2018 ◽  
Vol 4 (2) ◽  
pp. 153-167
Author(s):  
Zulva Azijah ◽  
Muhammad Findi Alexandi ◽  
Toni Irawan
Keyword(s):  
Economic Growth ◽  
Economic Integration ◽  
Annual Data ◽  
Conditional Convergence ◽  
Knowledge Based ◽  
Real Gdp ◽  
Knowledge Based Economy ◽  
Real Gdp Per Capita

Economic growth and convergence are the major issues in the global economic. Economic integration is a form of cooperation between countries in order to achieve welfare and prosperity. In 1997, ASEAN Plus Three has been established as an economic integration in the field of innovation and ICT. The aims of this study are to analyze the conditional convergence (β) and covergence (σ) and to consider the role of Knowledge-Based Economy on economic growth. This study uses annual data from 2001 to 2014 with a GMM approach. The case study of this research are the members of ASEAN Plus Three. The resultsof conditional convergence (β) estimation showed that the best dynamic panel criteria is not bias, valid dan consistent. The coefficient of conditional convergence (β) with KBE indicators that is 0.9917 has convergence rate of 0.8%. On the convergence (σ), the result showed that in the period 2001 to 2014, there has been a convergence in real GDP per capita that can be seen from the coefficient variation values that tend to be declined.

scholarly journals Human capital and economic growth in Nigeria

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Sunday Anderu Keji
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Health Sector ◽  
Vector Autoregressive ◽  
Knowledge Based ◽  
Education And Health ◽  
Normality Test ◽  
Knowledge Based Economy ◽  
Long Run ◽  
Lm Tests

AbstractThe study empirically examines the nexus between human capital and economic growth in Nigeria between 1981 and 2017. This is predated by poor policy impact across the key sectors of the economy, such as education and health that would have transformed productivity to economic in Nigeria. In order to address this ugly happening, the study therefore employed vector autoregressive and Johansen techniques. The results disclosed that the estimated coefficients of human capital have long-run significant impact on economic growth in Nigeria. Also, the diagnostic tests were used to check the validity of the techniques adopted in the study. Interestingly, results from normality test, VEC residual serial correlation LM tests and VEC residual heteroskedasticity tests confirm the justification and validity of the estimated results obtained in this research. Drawing way forward, this study therefore recommends the need to sustain economic in Nigeria through increase budgetary allocation to education and health sector to boost human capital skills needed to drive knowledge-based economy. Also, government should establish special agencies with the responsibility of improving the skills and capabilities of human capital across all educational levels of the federation so as to sustain growth in the long run.

Internationalizing Research in Kazakhstan Higher Education: A Case Study of Kazakhstan’s State Program of Industrial Innovative Development 2015 to 2019

2018 ◽  
Vol 23 (2) ◽  
pp. 234-247 ◽  
Author(s):  
Zakir Jumakulov ◽  
Adil Ashirbekov ◽  
Jason Sparks ◽  
Aida Sagintayeva
Keyword(s):  
Higher Education ◽  
Development Program ◽  
Innovative Development ◽  
International Partnerships ◽  
State Program ◽  
Knowledge Based ◽  
Knowledge Based Economy ◽  
International Partner ◽  
The University

This article describes the nature and impact of a major recent education policy aimed to transform higher education in Kazakhstan, the State Program of Industrial Innovative Development 2015 to 2019 (SPIID-2). This inquiry sought to understand and describe the role of internationalization of higher education in SPIID-2, and more specifically its role for developing university research. Kazakhstan’s industrial innovative development program promotes university–industry collaboration and universities’ international partnerships to enhance the role of the university in the economic development of the country, consistent with the imperatives and opportunities of the knowledge-based economy. The role of internationalization, particularly, involving international partner institutions, in this policy, contributes to quality assurance and informed decision making. Findings are based on content analysis of policy texts and interviews with university representatives.

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