Financing of Education: Trend on Personalization

I. Abankina
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I. Abankina: Institute for Education Studies of National Research University Higher School of Economics, Moscow, Russia

Journal of the New Economic Association, 2019, vol. 41, issue 1, 216-225

Abstract: This article analyzes the ratio of funding higher education in Russia and foreign countries. It is shown, that at a similar cost structure in Russia compared to other countries, and their monetary value is three times behind the level of the OECD countries. On the basis of generalization of foreign experience of reforms in the management of the financing of higher education research identified the major trends in the financing of Russian higher education: university leaders support concentration, reliance on public higher education financing as the main source, poor use of publicprivate partnership arrangements and income from funds of the trust capital. The focus of the article is on the transition to investment financing models of education transfer management of resources based on principles of personalization, including such tools as performance based contracts, competitive funds and vouchers, based on merit, human capital contracts, as well as individual educational accounts (lifelong learning accounts) as personal investment resource. It is these mechanisms that begin to play a key role in the resource development of education.

Keywords: higher education financing; universities' fiscal policy; expenses on education; financial restrictions; income diversification (search for similar items in EconPapers)
JEL-codes: H52 I22 I23 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2019:i:41:p:216-225

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