Theoretical and methodological basics of studying the effectiveness of investment in education

Liudmyla Kozarezenko
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Liudmyla Kozarezenko: Kyiv National University of Trade and Economics

University Economic Bulletin, 2019, issue 40, 41-54

Abstract: The subject of research is the methodology for calculating the effectiveness of investment in education at the public and private levels. The aim of the study is to summarize the theoretical and methodological aspects of the study of the effectiveness of investment in education at the public and private levels. Methods that were used in the research process: the method of comparative analysis, generalization, statistical and other research methods. Study results. The methodology for assessing the effectiveness of investment in education should take into account the fact that education efficiency is a complex category, the structure and content of which can be displayed by various forms of manifestation, namely: 1) in the area of: economic and social, 2) in terms of the level at which they are implemented: micro -, macroeconomic and international; 3) by subjects, receive benefits: internal (for direct participants in the educational process) and external (for “third parties”). At the same time, the effectiveness of the functioning of the educational sphere is determined by diverse factors, namely: 1) social: income level, demographic situation, state employment policy; 2) economic: taxation system, model of education financing (the ratio of public and private expenditures), government investment policy in the field of education, pricing policy in the field of education; 3) political and legal: the level of corruption, the political situation in the country, the national characteristics of the education system. The analysis of the features of the functioning of the educational sphere of Ukraine showed the restraining nature of its development, which, first of all, is associated with shortcomings in the process of state regulation of the sphere of educational services, therefore, taking into account the modern trends in the development of education should be the basis for a new modern methodology for assessing the effectiveness of investment in education. Application of results. The Ministry of Education and Science of Ukraine, The Ministry of Finance of Ukraine, The Ministry of Economic Development and Trade of Ukraine. Conclusions. The revealed advantages and disadvantages of existing methods and the lack of a generally accepted method for determining educational efficiency, as well as significantly excellent results of assessments obtained earlier by different authors and conclusions made by them, need to be improved existing or the development of a modern methodology for calculating the effectiveness of education, which is the subject of our further research.

Keywords: human development; investment; financial security; financial regulation; efficiency; education (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aff:colart:y:2019:i:40:p:41-54

DOI: 10.31470/2306-546X-2019-40-41-54

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