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Publikācija: Competitive Education as a Significant Factor of a National Economic Growth

Publication Type Full-text conference paper published in other conference proceedings
Funding for basic activity State funding for education
Defending: ,
Publication language English (en)
Title in original language Competitive Education as a Significant Factor of a National Economic Growth
Field of research 5. Social sciences
Sub-field of research 5.2 Economics and Business
Research platform None
Authors Maija Šenfelde
Andra Zenčaka
Keywords economic growth; competitive education; competitive human resources; economic development; national economy growth.
Abstract One of the most significant macroeconomic goals of a competitive state is economic growth, which leads to an increase in the supply of final goods and services. By definition, economic growth is an increase in production in a definite period of time, measured by the real GDP growth rate. Economic growth of Latvia depends to a large extent on the ability to produce and market competitive products and services in the national, European Union and global markets, which, in turn, depends on the resources available in the country and on their quality as well as on the country`s economic policy. The economic growth strategy and policy needs to be selected by countries based on their factor - the quality and availability of natural resources, human resources, capital, technology and information. In order to ensure a sustainable economic growth in the country, a knowledge-based economy must be implemented in the country, in which one of the essential factors is educated human resources, globally competitive and able to quickly respond to changes in the structure of the national economy. It results from researches carried out in the world that technological development will require a fifth of the workers to change their work in the coming decades. In this case, acquisition of knowledge, skills and competences will not necessarily require a long-term training process, but on the contrary it will have to be fast and qualitative in order to respond to changes in the labor market. The preparation of such resources requires an effective-functioning and competitive education system that is in close interaction with the processes taking place in the national economy. As education and its quality are one of the most important conditions for solving global problems in today`s world, the aim of the research is to analyze the features of competitive education, to demonstrate its impact on the growth of the national economy branches and to demonstrate how their effective interaction can ensure the country`s sustainable economic growth. In the research, the following methods, generally recognized in the economy, have been used: document analysis, comparison, classification, and statistical analysis methods. As a result of the research, the authors will determine the factors influencing the competitiveness of education, as well as develop recommendations to be introduced in order to implement competitive education in Latvia in line with the development trends of the national economy branches, to prepare knowledgeable and globally competitive human resources that would promote the long-term national economic growth.
DOI: 10.17770/sie2018vol1.3085
Hyperlink: http://journals.rta.lv/index.php/SIE/article/view/3085 
Reference Šenfelde, M., Zenčaka, A. Competitive Education as a Significant Factor of a National Economic Growth. In: Society, Integration, Education: Proceedings of the International Scientifical Conference, Latvia, Rezekne, 25-26 May, 2018. Rezekne: Rēzekne, 2018, pp.506-515. ISSN 1691-5887. e-ISSN 2256-0629. Available from: doi:10.17770/sie2018vol1.3085
ID 27044