World economy and politics

Development of the higher education market in the EU countries as a factor of human capital accumulation: experience for Ukraine

Economic Annals-XXI

Economic Annals-ХХI: Volume 192, Issue 7-8(2), Pages: 52-62

Citation information:
Kichurchak, M. (2021). Development of the higher education market in the EU countries as a factor of human capital accumulation: experience for Ukraine. Economic Annals-XXI, 192(7-8(2)), 52-62. doi: https://doi.org/10.21003/ea.V192-05

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Marianna Kichurchak
D.Sc. (Economics),
Associate Professor,
Ivan Franko National University of Lviv
1 Universytetska Str., Lviv, 79000, Ukraine
[email protected]
ORCID ID: https://orcid.org/0000-0002-1927-5704

Development of the higher education market in the EU countries as a factor of human capital accumulation: experience for Ukraine

Abstract. The scientific and methodological approach to the analysis of the peculiarities of the higher education market functioning in the EU countries in the system of human capital formation is represented. The purpose is to identify the chief factors influencing the development of the higher education market in the EU countries from the standpoint of human capital accumulation, to form scientific and practical approaches to improve its functioning in the economy of Ukraine. The author has proposed: to carry out a comparative analysis of the dynamics of higher education market in the EU countries (2013-2019) and in Ukraine, to evaluate the indicators of variation of this market in general and by educational and vocational levels; to determine the system of correlations between the capacity of the higher education market in the EU countries and the set of economic and socio-demographic indicators of development by means of multiple regression analysis.

Taking into account the human capital accumulation, it is established that the market of higher education in the EU countries is characterized by a number of structural features: focus on education in public higher education institutions with a slight trend to reduce the share of students enrolled in them in 2013-2019; differentiation by educational and vocational levels of higher education, public and private higher education institutions; sensitivity to the economic situation and the state of budget financing, demographic processes, the amount of household income, prospects for employment and career growth. In view of the EU countries experience, it is important for Ukraine to pay attention to improving the functioning of the market segment of higher education services, which includes public higher education institutions and create a favourable environment for private education institutions activities, public policy measures aimed at macroeconomic stability, development of the labour market and improvement of the financial situation of households.

Keywords: Higher Education Market; Socio-Economic Development; Vocational Skills; Human Capital; Econometric Modelling

JEL Classification: C50; I20; J24; L10; O15

Contribution: The author contributed personally to this work.

Data Availability Statement: The dataset applied is publicly available and provided by Eurostat. 

DOI: https://doi.org/10.21003/ea.V192-05

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Received 16.07.2021
Received in revised form 30.07.2021
Accepted 11.08.2021
Available online 21.09.2021

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