VSTE
Littera Scripta

ISSN (online): 1805-9112

Open access

Higher Education as a Determinant of the Competitiveness of the National Economy

Miloš Krstić1*, Nebojša Pavlović2

  1. University of Nis, Faculty of Sciences and Mathematics, Niš, Serbia
  2. University of Kragujevac, Faculty of Hotel Management and Tourism, Kragujevac, Serbia

* Corresponding author: krsticmilo3@email.com

Abstract

The aim of this paper is to contribute to a clearer understanding of the impact of higher education on the competitiveness of the national economy. The realization of this research was carried out by applying correlation and regression analysis. The results of research show that there is a direct correlation between higher education and the level of national competitiveness. The key contribution of this paper is that, based on previous literature and published results of scientific research, it gives a clearer insight into the competitiveness factors of the analyzed countries expressed in the field of higher education, and indicates the priority activities of the competent state bodies for advancement and raising the level of competitiveness of the national economy.

Keywords:Higher EducationReformsSkillsThe New Methodology of the Global Competitiveness Indexthe employability of studentsDual Education System in Higher Education Institutions

References

  1. Adesola, S., den Outer, B., & Mueller, S. (2019). New entrepreneurial worlds: Can the use of role models in higher education inspire students? The case of Nigeria. Journal of Entrepreneurship in Emerging Economies, 11(4), 465–491.
  2. Biagi, F., & Lucifora, C. (2008). Demographic and education effects on unemployment in Europe. Labour Economics, 15(5), 1076–1101.
  3. Cheng, Y. (2015). Academic ranking of world universities (ARWU) by subjects and fields: Methodologies, challenges and future plans. Subject and discipline related rankings—A more inclusive approach to university performance (IREG 2015). IREG Observatory on Academic Ranking and Excellence.
  4. Cavalli, L. S., Buttow, M. V., & Fermino, M. H. (2019). A importância da ciência e da publicação científica nas áreas agrárias: Um século de pesquisa agropecuária no sul do Brasil. Pesquisa Agropecuária Gaúcha, 5(3), 219–221.
  5. De la Fuente Moreno, A. J., & Serrano, J. F. J. (2005). The private and fiscal returns to schooling and the effect of public policies on private incentives to invest in education: A general framework and some results for the EU. Documentos de Trabajo del Banco de España, (9), 1–82.
  6. European Commission, Directorate-General for Economic and Financial Affairs. (n.d.). Efficiency and effectiveness of public expenditure on tertiary education in the EU. European Commission.
  7. European Commission. (2001). Communication of the Commission to the European Parliament and the Council on strengthening co-operation with third countries in the field of higher education. European Commission.
  8. European Commission. (2002). The concrete future objectives of education systems. European Commission.
  9. European Commission Representation in the UK. (2006). Delivering on the modernization agenda for universities: Education, research and innovation. European Commission.
  10. George, D., & Mallery, P. (2016). IBM SPSS Statistics 23 step by step: A simple guide and reference. Routledge.
  11. Highman, L. (2019). The distribution of EU students and staff at UK universities: Patterns and trends. Tertiary Education and Management, 25(4), 1–16.
  12. Hinton, P. R., McMurray, I., & Brownlow, C. (2014). SPSS explained. Routledge.
  13. Krstić, B., & Krstić, M. (2015). Determinants of national economy competitiveness of Balkan countries—Benchmarking study. In B. Krstić & Z. Paszek (Eds.), Competitiveness of enterprises and national economies (pp. 1–17). Faculty of Niš.
  14. Krstić, B., & Krstić, M. (2017). Higher education as a factor of Serbian national economy competitiveness. In B. Krstić & Z. Paszek (Eds.), Competitiveness of enterprises and national economies (pp. 1–28). Faculty of Niš.
  15. Krstić, B., & Krstić, M. (2018). Science as the determinant of competitiveness of countries—Benchmarking study. In B. Krstić (Ed.), Building competitiveness: Micro and macro aspects (pp. 1–25). Faculty of Niš.
  16. Krstić, M. (2018). Nauka i konkurentnost. In A. Kostadinović (Ed.), Proces evropskih integracija i regionalna saradnja CONSTANTIN MAGNUS (pp. 321–339). Fakultet za pravo, bezbednost i menadžment Konstantin Veliki.
  17. Krstić, M., Krstić, B., & Antonović, R. (2019). The importance of science for improving competitiveness of national economy. Economics and Organization, 16(1), 13–30.
  18. Lavrinovicha, I., Lavrinenko, O., & Teivans-Treinovskis, J. (2015). Influence of education on unemployment rate and incomes of residents. Procedia - Social and Behavioral Sciences, 174, 3824–3831.
  19. Lavrinovica, I., & Lavrinenko, O. (2013). Education as a factor of income differentiation of the population in Latvia within the period from 2000 to 2011. Procedia - Social and Behavioral Sciences, 106, 950–958.
  20. Leech, N. L., Barrett, K. C., & Morgan, G. A. (2014). IBM SPSS for intermediate statistics: Use and interpretation. Routledge.
  21. Lisbon Council. (2007). European growth and jobs monitor: Indicators for success in the knowledge economy. Allianz Dresdner Economic Research.
  22. Lovrinčević, Ž., Mikulić, D., & Rajh, E. (2008). Usporedba metodologija mjerenja konkurentnosti nacionalnog gospodarstva i položaj Hrvatske. Ekonomski Pregled, 59(11), 603–645.
  23. Mafenya, P. N. (2013). Investigation of the collaborative relationship between industry and academic education in open and distance learning: A South African context. Mediterranean Journal of Social Sciences, 4(13), 43–50.
  24. Melović, B. (2019). Educational management and leadership in Montenegro. In Á. Ingþórsson et al. (Eds.), Educational leadership in policy (pp. 245–264). Palgrave Macmillan.
  25. Mbonigaba, J., & Wilfred, A. G. (2019). Productivity effects of human capital: An empirical investigation of health and higher education in South Africa. Zbornik Radova Ekonomskog Fakulteta u Rijeci: Časopis za Ekonomsku Teoriju i Praksu, 37(1), 277–301.
  26. Mourato, J. M. T., & Patrício, M. (2019). Evaluation and control process in higher education institutions: A comparative analysis. Quality Assurance in Education, 27(3), 269–284.
  27. Ohotina, A., & Lavrinenko, O. (2013). Influence of the higher education on the investment climate. Procedia - Social and Behavioral Sciences, 106, 1470–1475.
  28. Pavlović, N. (2014). Influence of head teacher’s leadership style on tutor satisfaction. Stanislaw Juszczyk, 35(2), 266–278.
  29. Pavlović, N. (2015). Authentic leadership in educational institutions. International Journal for Quality Research, 9(2), 309–322.
  30. Pavlović, N. (2017). The role of social participants in the evaluation of teachers at universities in Serbia. Transylvanian Review, 26(1), 74–89.
  31. Piro, F. N. (2019). The R&D composition of European countries: Concentrated versus dispersed profiles. Scientometrics, 119(2), 1095–1119.
  32. Piterou, A., & Birch, C. (2016). The role of higher education institutions in supporting innovation in SMEs: University-based incubators and student internships as knowledge transfer tools. InImpact: The Journal of Innovation Impact, 7(1), 72–79.
  33. Savić, B., Milojević, I., & Petrović, V. (2019). Cost optimization in agribusiness based on life cycle costing. Economics of Agriculture, 66(3), 823–834.
  34. Schwab, K. (2019). The global competitiveness report 2019. World Economic Forum.
  35. Slavić, A., & Berber, N. (2019). The role of training practice in improving organizational performance in selected countries of the Danube region. Engineering Economics, 30(1), 81–93.
  36. Topić, M. (2014). Forging the reform: Bologna reform between the national and the European, the traditional and the ‘modern’. Facta Universitatis: Law and Politics, 12(1), 21–41.
  37. Tošović-Stevanović, A., Jurčić, A., & Rabrenović, M. (2017). Cultural aspects of management and their impact on competitiveness of countries. Megatrend Revija, 14(3), 149–163.
  38. Voronov, V., & Lavrinenko, O. (2014). Knowledge management and the increase of SME competitiveness: A case study. Baltic Region, 3(21), 22–32.
  39. Walmsley, A., Thomas, R., & Jameson, S. (2012). Internships in SMEs and career intentions. Journal of Education and Work, 25(2), 185–204.