EDUCATIONAL POTENTIAL AS THE BASIS OF INNOVATIVE DEVELOPMENT OF UKRAINE: INTERNATIONAL COMPARISON

Array

Authors

Keywords:

innovative development, educational capital, educational potential, inclusive development, institutionalization of innovation development, capitalization of educational capital.

Abstract

Educational capital is becoming one of the main factors in the development of economies in the world and society. Investing in human capital stimulates the pace of economic growth, which is a prerequisite for the competitiveness of the country on the world stage. The quality of human capital is a greater extent shaped by the education system.

For the Ukrainian economy, with its imperfect institutions, this element of human capital is of fundamental importance, since it contains reserves for institutional renewal not only of the business environment, but also of social institutions. In recent years, the key element of human capital of the country has become intellectual capital - the ability to generate and develop innovation, a kind of economic projection of creative activity. Intellectual capital is crucial for the modernization of the economy, the transition to new technological developments. The most important characteristics of educational potential are the population coverage of different types and forms of general and vocational education, its qualitative parameters, the state of infrastructure, financial component and development after university education, the level of population culture and its outlook orientation, spiritual development, the ability to systematically receive and use the necessary information.

Education in the modern economy should be considered not as a spending field, along with social assistance, pension system, state apparatus, defense and security sectors, but as an investment sphere that determines the scale of economic growth.

The main strategic priority of the state should be the development of human capital through investments in education, science, training, health care, which will ensure in the future a stable macroeconomic effect and the ability to respond quickly to global challenges.

Author Biography

H. Rybak, O.M. Beketov National University of Urban Economy in Kharkiv

senior lecturer of Department

References

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Published

2019-05-31

How to Cite

Rybak, H. (2019). EDUCATIONAL POTENTIAL AS THE BASIS OF INNOVATIVE DEVELOPMENT OF UKRAINE: INTERNATIONAL COMPARISON: Array. Municipal Economy of Cities, 4(150), 71–75. Retrieved from https://khg.kname.edu.ua/index.php/khg/article/view/5466