Multidimensional Analysis of Educational Indicators of the National

Economy Innovative Development

Olha Ilyash

1,2 a

, Larysa Taranenko

1 b

, Olena Trofymenko

1,2 c

, Nataliia Koba

2 d

and

Marzena Sobczak-Michalowska

3 e

National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, 37 Peremohy Ave., Kyiv, 03056,

Ukraine

International University of Finance, 37 Peremohy Ave., Kyiv, 03056, Ukraine

University of Economy in Bydgoszcz, 2 Garbary, Bydgoszcz, 85-229, Poland

Keywords:

Educational Indicators, Educational Performance, Innovative Development, Educational and Scientiﬁc

Breakthrough, National Economy.

Abstract:

The paper is a study of the educational indicators signifying the national economy innovative development.

The subject of the research is the processes deﬁning the formation and advancement of prerquisites for edu-

cational and scientiﬁc breakthrough in Ukraine. The paper is aimed at working out the system for assessing

the educational constituent of the national economy innovative development, which is to ensure an effective

state regulation of educational processes as well as to prevent the risks of reducing the educational security of

the national economy. The study is performed by way of applying such general scientiﬁc methods as those

of systemic and complex analyses, research of indicators values’ dynamics, system generalization, statistical

methods and the method of taxonomic analysis. As a result of using these methods as well as on the basis

of a multidimensional analysis of educational indicators of the national economy innovative development, in

particular of the international practices of educational and scientiﬁc breakthroughs, the authors advance and

substantiate the measures necessary for the effective state regulation of educational processes.

1 INTRODUCTION

The ongoing processes of globalization, an inten-

sive scientiﬁc and technological progress taking place

on the basis of artiﬁcial intelligence development,

information technology and transdisciplinary scien-

tiﬁc knowledge, increase in the interpersonal and

inter-organizational competition that characterize the

present-day global economic system, etc. change dra-

matically not only economic processes but also the in-

dividual’s role and place in them as well as the nature

of the person’s relationships with other participants of

these processes.

Thus, modern society is on the verge of the fourth

industrial revolution, which embraces the process of

https://orcid.org/0000-0002-7882-3942

https://orcid.org/0000-0002-4533-9986

https://orcid.org/0000-0002-2339-0377

https://orcid.org/0000-0002-6444-5872

https://orcid.org/0000-0002-9533-8316

formation of the society of knowledge and of the

Industry 4.0 (Kobets and Yatsenko, 2019), where

the total digitalization is accompanied by the emer-

gence of new professions that require new knowl-

edge and skills, and, consequently, innovative ap-

proaches to education and human resources develop-

ment. Clearly, in order to make an industrial break-

through 4.0, humanity must ﬁrst secure an educational

breakthrough based on the new Education 4.0 system

through implementation of the 4th Sustainable Devel-

opment Goal: “Ensure inclusive and equitable quality

education and promote lifelong learning opportunities

for all” as deﬁned by the UN in 2015.

2 LITERATURE REVIEW

The processes of formation and development of the

Education 4.0 system should be based, in our opin-

ion, on the provisions of innovation theory, the no-

tion of knowledge-based economy, the theory of life-

Ilyash, O., Taranenko, L., Trofymenko, O., Koba, N. and Sobczak-Michalowska, M.

Multidimensional Analysis of Educational Indicators of the National Economy Innovative Development.

DOI: 10.5220/0011930800003432

In Proceedings of 10th International Conference on Monitoring, Modeling Management of Emergent Economy (M3E2 2022), pages 23-37

ISBN: 978-989-758-640-8; ISSN: 2975-9234

 2023 by SCITEPRESS – Science and Technology Publications, Lda. Under CC license (CC BY-NC-ND 4.0)

long learning (LLL), of knowledge management, self-

study and other present-day theories and ideas.

Deﬁning the knowledge society, Kok (Kok, 2004)

remarks that this notion encompasses all the aspects

of human activities beginning from high-tech produc-

tion up to artistic professions like in media and ar-

chitecture, where knowledge is provided as the basis

for added value creation. In his turn, Leiber (Leiber,

2018), while considering the knowledge society, em-

phasizes the crucial role of the quality of education

in general and that of higher education viewed as a

social, economic and environmental factor. Agrawal

et al. (Agrawal et al., 2021) highlight a high corre-

lation between information communication technol-

ogy (ICT) and knowledge management. Valero and

Van Reenen (Valero and Van Reenen, 2019) prove

that increases in the number of universities are pos-

itively associated with future growth of GDP per

capita. Supporting this view, Bene

sov

a and Tupa

(Bene

sov

a and Tupa, 2017) underline the impact of

technology not only on the emergence of knowledge-

intensive products and services, but also emphasize its

much greater impact on people’s education in general.

After all, only highly qualiﬁed and highly educated

specialists will be able to control these technologies.

It is clear therefore the increasing role of organiza-

tional education to adapt the people to changes that

occur as a result of technological and economic inno-

vation. The paper (Engstrand and Enberg, 2020) ex-

plores the role of relational power and discursive po-

sitioning in the knowledge integration process using

a deﬁnite interdisciplinary project as an example and

thus emphasises the necessity of carrying out more

research that explicitly explores power in the knowl-

edge integration process.

Thus, recent research (Thakur and Arora, 2022;

Mane and Miravet, 2016; Marchiori et al., 2022;

Kucherova et al., 2021) has shown that human capital

makes a signiﬁcant contribution to economic growth

and technological development primarily through ed-

ucation, innovation and continuous growth. At the

same time, the limited development of human capital

leads to the use of natural resources as the main source

of income, thereby reducing the level of the countries’

economic development. In addition, the relationship

between human capital and innovation at the country

level is based on the fact that various forms of capi-

tal can be converted into resources and other forms of

economic beneﬁt. However, it is only a properly qual-

iﬁed human capital that can ensure the industrial and

technological development of the country as well as

can serve for its economic growth. Therefore, the as-

sessment of education through the prism of country’s

innovative development, in our opinion, should deﬁ-

nitely include indicators of the level of development

of the country’s human capital.

Nedelko et al. (Nedelko et al., 2019), as a re-

sult of studying the strategies and tools for knowledge

management in innovation and Industry 4.0, empha-

size that the use of the notion of knowledge manage-

ment in Industry 4.0 should not only be encouraged

but rather necessitated. It is well known that for the

emergence of new knowledge and its commercializa-

tion, which is the essence of innovation, it is neces-

sary to ensure close ties between industry and sci-

ence and education (Trofymenko et al., 2021). Thus,

we can state that education and science today are the

starting point and the driving force to ensure the inno-

vative development of business and, consequently, of

national economies.

Considering the above-mentioned tendencies, the

issue of measuring the effectiveness of educational

process in accordance with the dynamic global socio-

economic environment has become quite acute. There

are a number of scientiﬁc papers substantiating the

indicators of education performance for individual

countries (Braunstein et al., 2022; Riley and Nuttall,

1994; Csom

os, 2020) as well as methodologies pre-

sented by various international organizations, which

include educational indicators (IMD - International

Institute for Management Development, 2022; Dutta

et al., 2020; Schleicher, 2019; UNDP, 2019; World-

Bank, 2021; Schwab, 2018). However, given the ur-

gent need to reform education within the process of

Industry 4.0 formation, there is a necessity to search

for new approaches to assessing educational indica-

tors through the prism of their impact on the inno-

vative development of the state, which will serve the

increase in the efﬁciency of public administration and

control.

Therefore, this paper is aimed at working out the

system for assessing the educational component of

the national economy innovative development, which

will ensure the effective state regulation of educa-

tional processes as well as will prevent the country

form the risks of reducing the educational security of

the national economy. Accordingly, the main issue of

the study is the deﬁnition and analysis of educational

indicators, and the formation of recommendations on

the development of educational indicators at various

levels of state policy to ensure innovative develop-

ment of the economy based on the study of effective

global practices. The hypothesis lies in the idea that

the growth of the indicators of education quality will

lead to an increase in the metric of state innovative

development.

M3E2 2022 - International Conference on Monitoring, Modeling Management of Emergent Economy

3 METHODS

In the course of the study the authors employed gen-

eral scientiﬁc and statistical methods, as well as the

method of a taxonomic analysis. As is known, a

multidimensional statistical analysis is used to deter-

mine the largest number of features that will affect

the object of study. That is why to deﬁne the degree

of a cumulative impact of the factorial characteris-

tics on the level of the national economy innovative

development, the authors offered to apply the taxo-

nomic method. The necessity to opt for this method

is born out of the demand to search for a single in-

tegrating indicator out of the large number of indica-

tors that characterize innovative development, which

allows increasing the efﬁciency of public administra-

tion and control (Ilyash and Stefaniak, 2012).

As the data base for the use of a taxonomic analy-

sis we chose the educational indicators of innovative

development of the national economy of Ukraine as

of the years 2013–2019. Such indicators include the

Human Development Index (HDI), the level of expen-

diture on education of GDP, the Education Index, the

literacy rate (i.e. expected years of schooling), and

Ranking of national higher education system.

Thus, the human development index is a com-

bined index and an indicator of the educational

component of the country’s innovative development

(WorldBank, 2021). The index measures the coun-

try’s achievements in terms of life expectancy, access

to education, actual income of the citizens, and takes

into account changes in the indices of socio-economic

and gender inequality and multidimensional poverty.

In addition, the human development index is adjusted

by political, economic, social, and environmental fac-

tors, such as: human rights and civil liberties, par-

ticipation in public life, social security, the degree

of territorial and social mobility of population, the

level of cultural development, access to information,

health, unemployment, crime, environmental protec-

tion, environmental impact and others. It should be

mentioned this index comprises the following data:

the acquired human capital; the expected duration of

children’s education at school; results of the standard-

ised testing of schoolchildren; the percentage of adult

survivors and the proportion of children without any

developmental disorders (UNDP, 2019).

The literacy level of the country’s population (ex-

pected time of schooling) is set by authors as a sep-

arate indicator of educational development because it

indicates the general educational level of the popula-

tion.

The education expenditures is one of the key indi-

cators of innovative development. Innovative devel-

opment of the domestic economy and strengthening

the social component of state economic security can

be ensured only by increasing human capital expen-

ditures. Investing in education is a vital means of in-

creasing human capital and prospects of the country’s

economic growth. Therefore, the level of expendi-

tures on education of GDP was chosen as one of the

indicators for taxonomic analysis.

The Education Index, which is a sub-index of the

Human Development Index, should be also included

to the educational indicators.

It is the economic development and competitive-

ness of the country that serve as the indicators of the

country’s economic security and largely depend on

the number of educated and competent professionals,

as well as technologies that increase their productiv-

ity. The higher education sector contributes signiﬁ-

cantly to realisation of these needs. In addition, in the

modern world of alterglobalism, those high-quality

higher education systems, which have broad links at

the international level and contribute to the country’s

global development through the exchange of students,

researchers, projects and ideas, demonstrate a high

level of national economy. Therefore, one of the in-

dicators of the educational component of the state in-

novative development at the global level is the rank-

ing of national higher education systems (U21 Rank-

ing of National Higher Education Systems) which en-

ables assessing the overall higher education system of

different countries at various stages of economic and

social development (Williams and Leahy, 2020).

To conduct a taxonomic analysis of the educa-

tional component of innovative development, it is ra-

tional to perform a sequence of the following method-

ological steps (Ilyash et al., 2021):

• to form a matrix with the initial data necessary for

the study of educational indicators of innovative

development;

• to standardize the values of the indicators matrix;

• to form a reference vector representing the growth

of the innovative development component under

study;

• to calculate the distance between individual vari-

ables and the reference vector; item to deﬁne the

taxonomic indicator of innovative development.

In accordance with the outlined algorithmic steps,

it is expedient to form an observation matrix based

on the input data. It should be mentioned that in our

study the units (I

) are represented by the innovative

development educational indicators. Within the scope

of these indicated we single out the educational com-

ponent of innovative development (E), while the years

sand for characteristic features.

Multidimensional Analysis of Educational Indicators of the National Economy Innovative Development

The construction of the matrix respresenting the

initial data by components comprises the following

steps:

The ﬁrst step presupposes the use of I

(E)

for the

matrix in order to reveal the educational component

of innovative development (size 5×7).

At the second stage, since the indicators of inno-

vative development have different measurement units,

it is necessary to form a matrix of standardized val-

ues. This procedure is performed by replacing the

criteria values with the coefﬁcients standardized in-

dicators (Ilyash and Stefaniak, 2012) according to the

following formula (1):

(1)

where:

is the value of the i

indicator;

I is the average value of the i

indicator.

After indicators’ standardization, to carry out a

further taxonomic analysis, the features of the obser-

vation matrix are to be divided into those of stimula-

tors and destimulators that determine the direction of

the impact on the national economy innovative devel-

opment. In this case, stimulatory factos have a posi-

tive effect on the development level, while destimula-

tory factors restrain.

Differentiation of the studied factors into stimulat-

ing and destimulating ones is given in the table 1.

The division of the indicators into stimulators and

destimulators can serve as the basis for ﬁnding out

the ideal reference vector and forming the values of

the indicators (Ilyash and Stefaniak, 2012) in the fol-

lowing way:

(

= max I

i j

(stimulator)

= min I

i j

(destimulator)

(2)

After that, we receive a vector-standard of the in-

novative development level within the framework of

educational component. To calculate the integrated

taxonomic index, it is necessary to ﬁnd the average

distance (C

), the mean value of the square root of

the average square of the difference of values of char-

acteristics (S

), deviation of the distance between the

point-unit and the upper pole point from the value of

characteristics distance (d

) for the educational com-

ponent of innovation development according to the

following formulas (3-6):

1) average distance:

∑

i=1

(3)

where:

m – the number of periods;

– the distance between the point-unit and the

point E

;

2) the mean value of the square root of the average

square of the difference between the values of charac-

teristics:

∑

i=1

− C

)

(4)

– the average distance;

– the distance between the point-unit and the

point E

;

3) deviation of the distance between the point-unit

and the point the reference vector from the value of

characteristics distance:

= C

+ 2S

(5)

(6)

where:

– the mean value of the square root of the aver-

age square of the difference of values of characteris-

tics;

– the distance between the point-unit and the

point E

;

– the distance.

On the basis of the obtained results, we can de-

ﬁne the taxonomic indicator of the level of the system

economic security by the following formula (7):

K = 1 − d (7)

where:

d – deviation of the distance between the point-

unit and the point E

from the value of characteris-

tics distance.

Thus, the obtained indicator can acquire higher

values with the higher values of stimulants, and, con-

sequently, lower ones with low values of stimulants.

By calculating this indicator, we will be able to an-

alyze the directions and scales of changes that occur

in the system under study, in particular, in the inno-

vation system of the national economy on the basis of

one synthetic feature of the educational component.

4 RESULTS

For the innovative development of the national econ-

omy, the development of human capital assets un-

doubtedly remains the driving force. That is why

the study of educational and scientiﬁc direction of in-

novative economic development, which is the basis

for ensuring the capital development, is of an urgent

need. At present, the model of education aimed at

M3E2 2022 - International Conference on Monitoring, Modeling Management of Emergent Economy

Table 1: Educational indicators of innovative development (stimulator / destimulator).

Symbol Indicator

Stimulator or

destimulator

E Educational component

Human Development Index Stimulator

Level of expenditures on education of GDP, % Stimulator

Education index Stimulator

Literacy rate of the country’s population (expected years of schooling) Stimulator

Ranking of the national higher education system Stimulator

training highly qualiﬁed industry personnel is almost

completely lost, while industrial enterprises cannot

function efﬁciently with a shortage of specialists hav-

ing an up-to-date training. In order to preserve the

industrial potential, the structure of innovative edu-

cation should form a symbiosis of higher education

institutions, research institutes, production facilities

of industrial enterprises and public authorities. How-

ever, the majority of organizations cannot make the

use of human capital resources since they are limited

by the approaches aimed at performing speciﬁc tasks

rather than being focused on research and develop-

ment. At the same time, industrial enterprises agree

that managing human capital development is one of

the priorities of innovation progress.

Unfortunately, in Ukraine there is a signiﬁcant

gap between the knowledge and competencies of the

students who graduate almost without any practical

experience, forcing employers to spend time prepar-

ing them for a particular job (Kahkonen, 2018; Bhat-

tacharya, 2017). To build innovative human capital,

the educational system should include more practical

skills, in particular through the integration of busi-

ness into the educational process, and, thus, provide

the generation-to-come with the up-to-date theoreti-

cal and innovative practical tools.

The research results of the different countries’ ex-

perience on the development of education are given

below.

In particular, such countries as Singapore, China,

India, South Korea, USA, Japan, Finland, Brazil, and

others demonstrated the educational breakthrough

achieved through high quality STEM education, due

to increase in expenditures on education, by means

of supporting fundamental research and a number of

programs aimed at developing the level of general

public digital competence as well as thanks to the

growth in patent productivity in priority sectors of the

economy.

Singapore, for instance, has introduced programs

to set up technical schools and international corpo-

rations to train unskilled workers in the spheres of

information technology, petrochemistry and electron-

ics. The strategy of involving Singapore’s multina-

tional organizations in training its workforce has con-

tributed in the long run to the country’s economic

prosperity. As a result of the education system re-

form taken place in Singapore, minimum compul-

sory educational standards have been introduced for

all schools, English has become an obligatory disci-

pline for all types of schools and a number of other

subjects are tought in English. The government is

constantly investing in the education of Singaporean

students in the best universities world, while creat-

ing at the same time leading research and educational

centers in Singapore. Distinguished results in edu-

cation have been achieved due to implementation of

the Plan of Research and Innovation Enterprises com-

pleted by 2020 (Research, Innovation and Enterprise

Secretariat, 2016).

China’s economic reform program was based on

lowering government norms on prices in education

sphere and increasing investment in education of per-

sonnel (Santacreu and Zhu, 2018).

India initiated a policy of promoting the quality

of the workforce. The introduction of the language

law made English a second national language, which

contributed to the growth of the country’s technologi-

cal development and signing international agreements

with the leading companies in the IT sector.

South Korea, the USA, Japan, and China have

the policy of increasing the share of GDP in research

and development (R&D), which results in the growth

of intensity and quality of research and development

(World Bank, 2019).

In Finland, there are programs to expand cooper-

ation with foreign experts since due to the aging of

its population in some industries, there is a shortage

of workforce. There are also programs aimed at ﬁ-

nancial support of innovations in R&D. One euro in-

vested in innovation for research brings about 10-20

euros net proﬁt, which corresponds to 70% of invest-

ments (compare, for example, in Russia they spend

10% of investments, while in France 90%).

In Brazil, there is the Bolsa Familia Income Trans-

fer Programme (Family Assistance), which provides

Multidimensional Analysis of Educational Indicators of the National Economy Innovative Development

monetary beneﬁts to families who send their chil-

dren to school. The government has also introduced

the policy of increasing investments in education to

strengthen human resources.

It seems inevitable that automation, digitalization

and other forms of technology will put an end to mil-

lions of jobs and will create new opportunities for the

workforce. At the same time, it is of vital importance

to prepare the next generation of workers to partic-

ipate in the development of Industry 4.0. It is ed-

ucation that should be the driver of future skills by

means of going beyond the traditional teaching, in-

cluding entrepreneurship, soft leadership, technology

and workforce readiness. Accordingly, it proves the

need to provide such the condition for the develop-

ment of human resources required to meet the chang-

ing demands of the twenty-ﬁrst century as the im-

provement of quality of primary schools education.

Since the adoption of the Universal Declaration of

Human Rights in 1948, countries have been making

efforts to universalize primary education. However,

the quality of education is going down due to the low

quality of primary education. Thus, in 2019, Ukraine

demonstrates the lowest level of quality of primary

education as compared to the world’s leading coun-

tries. The percentage of students with the highest re-

sults in at least one ﬁeld (reading, mathematics, and

natural sciences) is only 7.5%, which is from three

to ﬁve times lower than in China (49.3%), Singapore

(43.3%), South Korea (26.6%) and Canada (24.1%),

while it accounts for 50% of the quality of primary ed-

ucation in Denmark (15.8%). Some of the advantages

of high quality primary education in Singapore and

South Korea comprise effective leadership, quality

teacher advanced training, high salaries for teachers,

teachers’ professional development strategy, a high

percentage of modern equipment supply, the ability to

work with innovative interactive technologies as well

as social security of teachers (Schwab, 2018). In the

USA, the Regional Councils for Economic Education

and the State Federal Reserve offer the teachers an

annual weekly summer training program based on the

model “Key to Financial Success”. A comparison of

the main indicators of the educational and scientiﬁc

breakthrough of Ukraine with countries of progres-

sive development in 2019 is presented in the table 2.

Over the last two centuries, alongside the increase

in the number of students acquiring primary educa-

tion, there has been a steady increase in the level of

literacy of the world population. However, in some

African countries, the literacy rate among young peo-

ple is still below 50.0%. According to the level of

population literacy, Ukraine ranks 51st in the world

ranking of competitiveness. Thus, the average num-

ber of years spent on studying and the expected du-

ration of education in Ukraine is 10,4 years, which

sets it ahead of China (7,8 years) by 2,6 years and be-

low Germany (17,1 years), Canada (13,8 years) and

the United States (13,4 years). Among the possible

threats of insufﬁcient literacy in Ukraine’s popula-

tion, to name but a few, are the state’s non-recognition

of other than ofﬁcial forms, formats and methods of

training, lack of the culture of dual education within

the framework of labor relations, lack of employers’

interest in ﬁnancing employee training, the employ-

ees’ insufﬁcient practical and soft skills (Karpenko,

2015).

As for the education in Japan, it is almost 32%

funded by private sources. The education in Denmark

is entirely funded by Danish government which guar-

antees free education for all (World Bank, 2019). In

the Netherlands and other countries of Northern Eu-

rope, the government has developed programmes to

provide opportunities to participate in formal and /

or informal education for adults and the unemployed

(64% and 57% of adults and the unemployed have al-

ready participated in these programmes).

A feature of the national education system is a rel-

ative high level of funding, i.e. the maximum amount

of expenditures is allocated on education. Thus, the

indicators of education ﬁnancing in Ukraine in 2019

exceed the average indicators of the OECD countries

(by 6% of GDP) (Zhylinska et al., 2017), in particu-

lar Denmark (6,5% of GDP), the United States (6%),

Finland (5,7%) and are 2,5 times higher than in Sin-

gapore (2,7%), Japan (3,2%), and China (3,6%). A

common feature of the leading countries in terms of

ﬁnancing higher education with the insigniﬁcant level

of public sector spending is a high share of of funding

provided by the private sources, in particular, in the

United States – 26%, Australia – 23%.

Digital competencies of the population play quite

an important role in the educational and scientiﬁc

breakthrough (Bondarchuk et al., 2022). However,

as of 2017, according to the Digital Skills Index

of the European Digital Economy and Society In-

dex (DESI), almost half (44,0%) of the EU popula-

tion does not have the necessary skills to use digi-

tal technologies (Russo, 2020). To ensure an educa-

tional breakthrough in Ukraine, the Digital Agenda

of Ukraine – 2020 was adopted with an aime to use

digital technologies, create a digital society and en-

sure the competitiveness of the country and its citi-

zens. Thanks to digitalization, Ukraine is able to re-

duce the gap in international indicators of competi-

tiveness (Kuybida et al., 2019), since in 2019 it ranked

56th with the index 4,5 economic units (EU) and as

compared to 2016 it increased the level by only 8

M3E2 2022 - International Conference on Monitoring, Modeling Management of Emergent Economy

Table 2: Indicators of educational breakthrough in Ukraine and the countries of progressive development in 2019 (based on

(WorldBank, 2021; UNDP, 2019; IMD - International Institute for Management Development, 2022; Schwab, 2018)).

Indicators

Ukraine

Finland

Germany

Denmark

USA

Canada

Australia

South Korea

China

Singapore

Japan

Quality of primary education (%

of students with the highest results

in at least one of the disciplines:

(reading, mathematics, natural sci-

ences, level 5 or 6)

7,50 21,00 19,10 15,80 17,10 24,10 18,90 26,60 49,30 43,30 23,30

The literacy level of the country’s

population (the average number of

years spent studying) and the ex-

pected duration of education

10,40 17,10 12,40 12,60 13,40 13,80 12,40 12,10 7,80 11,90 12,80

Index of digital competencies of

economically active population

4,50 5,10 5,80 5,40 5,30 5,10 5,00 5,00 4,70 5,60 4,40

Expenditures on education, % of

GDP according to IMD data

6,00 5,70 4,10 6,50 6,00 4,40 5,00 5,00 3,60 2,70 3,20

points. The leading countries are Finland (5,8), Sin-

gapore (5,6), Denmark (5,4) and the United States

(5,3). With the support of the National Library Coun-

cil and the Singapore Cybersecurity Agency, curric-

ula have been updated with a view to providing better

cybersecurity awareness and acquiring skills to detect

fake news and protect onself against it. Besides, the

government introduced a route map of teaching tech-

nology intensity, which is a three-year plan to help

small and medium-sized enterprises (SMEs) acceler-

ate technology implementation and help the popula-

tion expand their digital capabilities (e.g., a Memo-

randum on cooperation between SkillsFuture Singa-

pore and Microsoft has been signed aimed at help-

ing make proﬁt for 5000 people and 100 small- and

medium-sized enterprises). Denmark has developed

the Digital Literacy Manifesto, which has inspired

politicians to reﬂect on digital skills and transforma-

tion.

We shall remark here that the process of monitor-

ing the educational component of innovation devel-

opment should be carried out within the system of in-

dicators: correlation between the level of education

expenditures to GDP, human development index, ed-

ucation level index, literacy level and the rating of

the higher education system. The system of the men-

tioned indicators is presented in the table 3.

According to the report submitted by UNDP in

2019, Ukraine ranked 74th in the human develop-

ment index among 183 countries surveyed. Given

the signiﬁcant part of the population with higher edu-

cation (82%), Ukraine has an average human devel-

opment index among European countries, which is

0,779 points. At the same time, the share of people

engaged in scientiﬁc activities is only 0,34% out of

the total employed population.

It should be added that 66 countries of the world

belong to the category of high level of human de-

velopment, among which: Switzerland (2nd place,

0,955 points), Germany (6th place, 0,947 points),

Great Britain (13th place, 0,931 points), Canada

(16th place, 0,929 points), Estonia (29th place,

0,892 points), Lithuania (34th place, 0,882 points),

Poland (35th place, 0,880 points), Romania (49th

place, 0,828 points), Kazakhstan (51st place, 0,825

points), Russia (52nd place, 0,824 points), Belarus

(53rd place, 0,823 points), Turkey (54th place, 0,820

points), Bulgaria (56th place, 0,816 points), Georgia

(61st place, 0,812 points), Serbia (64th place, 0,806

points).

The World Bank estimates the human capital in-

dex in Ukraine at 0,63 points, so Ukraine ranks 50th

among 157 countries. Thus, a child born in Ukraine

can rely upon acquiring only 63% of the potential

level of human capital, being possible only under con-

dition of receiving complete education and having a

good health. In terms of ﬁgures, Singapore (88%),

Hong Kong (81%) and Japan (80%) have been ranked

ﬁrst for several years in a row. The top ten countries

also include South Korea, Canada, Finland, Macau

and Sweden (about 88%), Ireland and the Netherlands

(79%). The lowest positions in ranking are occupied

by the CAR (29%), Chad (30%) and South Sudan

(31%).

The comparison of the index of human capital

with GDP per capita in the world allows us to trace

Multidimensional Analysis of Educational Indicators of the National Economy Innovative Development

Table 3: The rate of change of the educational component indicators signifying the innovative development of Ukraine

within the period of 2013–2019 (based on (WorldBank, 2021; UNDP, 2019; IMD - International Institute for Management

Development, 2022)).

Indicators

Years Growth rate, %

2013 2014 2015 2016 2017 2018 2019 2019/2018 2019/2015 2019/2013

Educational indicators

1. Human development index 0,74 0,75 0,74 0,75 0,75 0,75 0,77 102,67 104,05 104,0

Level of education expenditures

to GDP, %

5,90 6,20 6,70 6,70 6,00 5,90 5,00 84,75 74,63 84,75

3. Education level index 0,791 0,8 0,791 0,792 0,794 0,792 0,799 100,88 101,01 101,01

Literacy level of the country’s

population (expected time of

schooling)

14,90 15,00 14,90 15,10 15,10 15,10 15,10 100,00 101,34 101,34

Ranking of the national higher

education system

49,9 43,9 44,0 42,1 47,7 47,4 45,1 95,15 102,50 90,38

the correlation between the level of the country’s eco-

nomic development and the level of education re-

ceived by human capital (ﬁgure 1). Thus, in gen-

eral, the countries with the highest human capital in-

dex have higher GDP per capita: Singapore (0,88

and 652333), Japan (0,80 and 40246), Canada (0,80

and 46194), Finland (0,80 and 48782), Switzerland

(0,80 and 51615), Ireland (0,79 and 78660,96). The

lowest positions are occupied by Congo (0,37 and

553), Yemen (0,37 and 774), Rwanda (0,38 and 820),

Ethiopia (0,38 and 855), Burundi (0,39 and 261). It

should be added that in 2019 the value of the human

development index in Ukraine was 0,63, while GDP

per capita amounted to 3656 (UNDP, 2019).

The total amount of education funding (from pub-

lic, local and private sources) varies from 5,0% to

6,7% of GDP and is characterized by declining dy-

namics. Although the Law of Ukraine “On Educa-

tion” states that education funding should comprise

at least 7% of GDP, in 2019 the amount of ﬁnancial

support in this area was only 5,0% and the share of

expenditures on education in the budget of Ukraine

comprised 17,1% (State Statistics Service of Ukraine,

2021). Examining the dynamics of this indicator

changing throughout 2014–2019, we can single out

two periods: the 1st period of 2014–2016 is marked

by a decrease of 3,6 percentage points, while the 2nd

period (2016–2019) is characterised by an increase of

1,6 percentage points.

We should also point out that starting from the

year 2015, the consolidated budget expenditures on

education in GDP have also been decreasing. Thus,

despite its unstable dynamics, expenditures on educa-

tion as a percentage ratio of GDP amounted to 6,1% in

2019, while in 2016 it was 5,4%, which is 0,9% lower

than in 2014. At the same time, it should be noted

that in comparison with the EU countries, Ukraine

spends much more on education. Thus, the total ex-

penditure on education from GDP in Poland is 4,6%,

in Latvia – 4,7%, in Italy – 3,8%, Germany – 4,8%,

Estonia – 5,2%, Switzerland – 5,1%, and Romania –

3,0%. The high level of expenditures on education in

Ukraine is explained by the fact that the majority of

Ukrainian higher education institutions are ﬁnanced

from the state budget (72%), while in other countries

a signiﬁcant share is made up of private educational

institutions (43%).

Another key indicator of innovative development

in the context of ensuring the economic security of

the country is the Education Index, which is a sub-

index of the Human Development Index (WorldBank,

2021). The optimal value of the indicator for the de-

veloped countries is no less than 0,8 points. That is

why in 2019 Ukraine occupied the 46th rank (0,797

points) which testiﬁes a signiﬁcant achievement of the

country’s population in education in terms of adult lit-

eracy and the total number of students receiving edu-

cation. Figure 2 shows the general dynamics of the

education index among other indicators comprising

the educational component of innovative development

considered within the analysed period.

The education index also allows estimating the av-

erage number of, as well as the expected duration of

education of the population, which in Ukraine corre-

spond to 11,4 and 15,1 years respectively. Leading

positions in the world are occupied by Australia (22,0

years), Belgium (19,8 years), Sweden (19,5 years),

Finland (19,4 years), Iceland (19.1 years), Denmark

(18.9 years), New Zealand (18,8 years), Ireland (18,7

years), the Netherlands (18,5 years), and Norway

(18,1 years). We will emphasise that creation of con-

ditions for lifelong learning ensures the adaptation

of labor capital to rapid technological changes, and,

consequently, accelerates economic development and

serves for the growth of national economy competi-

tiveness.

M3E2 2022 - International Conference on Monitoring, Modeling Management of Emergent Economy

Figure 1: The ratio of the human capital index and GDP per capita of Ukraine and the world in 2019 (based on (UNDP,

2019)).

For instance, in 2020, Ukraine ranked 36th. If to

evaluate this indicator in terms of its individual con-

stituents, we can see that according to the degree of

investments from both the private and public sectors

Ukraine occupies the 27th place (52,6 points); as to

the public policy and regulation as well as the pos-

sibility of acquiring education, Ukraine takes 39th

place (70,6 points); according to the level of interna-

tional cooperation, which demonstrates the degree of

openness of the higher education system, Ukraine is

at the 38th place (40,4 points); considering the quality

of scientiﬁc research, scientiﬁc publications, compli-

ance of higher education with the demands of the na-

tional labor market, including further employment of

educational institutions’ graduates, Ukraine occupies

42nd place with a score of 28,7 points. At the same

time, the highest ranking include the USA, Switzer-

land, Denmark, Singapore, Sweden, Great Britain,

Canada, Finland, Australia, the Netherlands, and Nor-

way, where the overall indicator value is no less than

80 points.

It is worth noting that recently there has been a

tendency to reduce the number of higher education

institutions. Thus, in 2019, the Ministry of Educa-

tion and Science of Ukraine granted the right to carry

out activities in the ﬁeld of higher education only to

281 educational institutions, which is 25% less than

in 2010. A similar tendency is typical of the indica-

tor “the number of students per 10000 of population”,

which during the last 9 years dropped 0,6 times from

476 to 302 students. The reasons for this negative

tendency is the decrease in the birth rate, which, in

its turn, led to a reduction in the number of university

applicants and consequently in a number of students

in 2019 by 63% as compared to 2010 (ﬁgure 3). Re-

garding the academic and teaching staff in the ﬁeld of

education, it should be mentioned that there are 14,25

students per teacher in secondary schools, and 10,75

students per one teacher in higher educational insti-

tution, which is 1,5 times lower comparing with the

average indicator in the majority of economically de-

veloped countries.

As for education expenses, there has been a grad-

ual increase in private sector expenditures on R&D

(by UAH 177 billion or 66,6% within the period of

2013–2019), the following indices remain low: the

levels of expenditure on education (5,0% of GDP

in 2019 and a decrease by 0,9 percentage points

by 2013), implementation of scientiﬁc and techni-

cal work (0,43% and 0,27 percentage points, respec-

tively), ranking of the national system of higher edu-

cation (45,1% and a decrease by 4,8 percentage points

by 2013), the amount of scientiﬁc and technical work

being realized (0,3% to GDP and a decrease by 0,17

percentage points by 2013) and specialists who per-

form scientiﬁc and technical work (0,48% out of the

total number of employees and a decrease by 0,32

percentage points by 2013). It is also observed de-

clining in the level of patent productivity, reduction in

the number of specialists involved in R&D implemen-

tation, failing to maintain leading positions in pub-

lic funding of scientiﬁc and technical work, budget

funding including (State Statistics Service of Ukraine,

2021).

Multidimensional Analysis of Educational Indicators of the National Economy Innovative Development

Figure 2: Changes in the education index within the system of indicators comprising the educational component of Ukrainian

innovative development from 2013 to 2019 (based on (Williams and Leahy, 2020; UNDP, 2019; WorldBank, 2021)).

To overcome the negative phenomena in the ﬁeld

of education, it is necessary, ﬁrst of all, to build the

relevant skills and competencies in specialists-to-be

through a STEM-oriented approach to teaching and

learning (Le et al., 2021; Hrynevych et al., 2021).

Thus, in the UK, to meet the demands for specialists

in the STEM sphere it is necessary to have more than

100 thousand people graduate by 2020, while in Ger-

many there is a shortage of 210 thousand workers in

natural sciences, mathematics, technology and com-

puter science. However, to ensure the dynamic de-

velopment of the national economy, it is essential to

either signiﬁcantly increase the intellectual potential

of STEM specialists, or there should be a transition

of the economic development to a new phase with the

use of technologies of a new generation (Kelley and

Knowles, 2016). For the development of digitaliza-

tion processes it is important also taking into account

such world experience as Digital Competence Pro-

gram, the Danish “Digital Literacy Manifesto” (Kuy-

bida et al., 2019).

Thus, modernisation of the education system must

be carried out taking into account the directions of the

international economy development as well as deﬁn-

ing the role and place of the country in the global di-

mension. With such an approach to the education sys-

tem formation in a short period of time Ukraine will

have had the trained personnel of necessary special-

izations.

After studying the above mentioned factors inﬂu-

encing education development in Ukraine as well as

in other countries, we have applied the taxonomic

analysis. First, we compiled a matrix of input data







0,74 0,75 0,74 0,75 0,75 0,75 0,77

5,90 6,20 6,70 6,70 6,00 5,90 5,00

0,79 0,80 0,79 0,79 0,79 0,79 0,79

14,9 15,0 14,9 15,1 15,1 15,1 15,1

49,9 43,9 44,0 42,1 47,7 47,4 45,1







The next step was the formation of a matrix of

standardized values of Z







0,99 1,00 0,99 1,00 1,00 1,00 1,03

0,95 1,00 1,08 1,08 0,97 0,95 0,91

1,00 1,01 1,00 1,00 1,00 1,00 1,01

0,99 1,00 0,99 1,00 1,00 1,00 1,00

1,10 0,97 0,97 0,93 1,05 1,04 0,99







According to the results of the chosen methodol-

ogy application, we received the vector of the educa-

tional component being the standard of the level of

innovative development within the framework of the

educational component:

= (1.03; 1.11; 1.01; 1.00; 1.10)

M3E2 2022 - International Conference on Monitoring, Modeling Management of Emergent Economy

Figure 3: Dynamics of the indicators of higher education in Ukraine in 2000, 2005 and during the period from 2010 to 2019

(based on (Williams and Leahy, 2020; UNDP, 2019; WorldBank, 2021)).

At the next step of our research we calculated the

taxonomic indicators of the educational component of

the country’s innovative development.

The closer the value of the taxonomic coefﬁcient

to one, the greater is the impact of a particular ed-

ucational indicator on the national economy innova-

tive development. The calculations of taxonomic in-

dicators of the educational component of the national

economy innovative development within the period

from 2013 to 2019 are given in the table 4.

The taxonomic indicator’s dynamics in the context

of the educational component of the country’s innova-

tive development is shown in ﬁgure 4.

Despite the average value of the human develop-

ment index of European countries, the taxonomic in-

dicator of the educational component as a part of in-

novative development is characterized by a low share

(0,008).

Thus, the taxonomic analysis of the educational

component of the national economy innovative devel-

opment proves its negative dynamics, which signiﬁes

the importance of taking into account the changes in

educational indicators as well as timely response to

these changes for the effective state regulation of the

human capital development, which serves as the ba-

sis for the development of innovation and prevention

from the risks of reducing educational security of the

national economy.

5 DISCUSSION AND

CONCLUSIONS

The developed in the paper advanced system for as-

sessing the educational constituent of the national

economy innovative development, performed on the

basis of taxonomic analysis allows taking into ac-

count the main indicators of the educational devel-

opment in the country, thus simplifying the analysis

of their impact on the national innovation system and,

thus, serves as an effective tool for ﬁnding optimal so-

lutions in the state regulation of educational processes

as the basis for innovative activities of all its partici-

pants.

As a result of the performed research, it was found

out that the potential of the educational and scientiﬁc

components of the national economy of Ukraine in-

novative development is not realized to its full. These

results elucidate the reasons for Ukraine’s weak po-

sition in the state innovative economic development,

at present being one of the most important factors of

economic security. Therefore, judging from the re-

search results, in order to guarantee the national econ-

omy innovative development, the primary task is to

ensure the growth of taxonomic indicators within the

educational component.

In particular, the lack of systematic managerial

decisions by state authorities in solving problems of

educational policy development requires scientiﬁc re-

search to put forward proposals and set primary func-

Multidimensional Analysis of Educational Indicators of the National Economy Innovative Development

Table 4: Values of taxonomic indicators of the educational component in the system of the country’s economic security within

the period from 2013 to 2019.

Title Indices

Years

Values

2013 2014 2015 2016 2017 2018 2019

Educational component (M4)

(4)

0,139 0,157 0,136 0,173 0,128 0,146 0,300 C

= 0, 179

(4)

0,499 0,564 0,488 0,620 0,459 0,522 0,992 S

= 0, 055

(4)

0,501 0,436 0,512 0,380 0,541 0,478 0,008 C

= 0, 279

Figure 4: Dynamics of the taxonomic indicator of the country’s innovative development (from a perspective of an educational

component) within the period from 2013 to 2019.

tions of corresponding ministries and agencies in or-

der to ensure the innovative development of the na-

tional economy. According to the results of the

present study the primary functions of the state pol-

icy to ensure growing of the educational component

of the national economy innovative development have

been deﬁned. In particular, at the level of the Ministry

of Education and Science of Ukraine it is expedient to

introduce the Strategy of accelerated formation of the

teachers’ educational potential. This will contribute

to the spread of innovation in the education system of

Ukraine in the context of global digitalization. Based

on the high indicators of education in Japan, Den-

mark and the Netherlands obtained in the process of

the conducted research and taking into account the

directions of their development,it is advisable to in-

troduce the programs of learning English as a ﬁrst

foreign language into primary school; to develop, in

cooperation with private educational institutions, ed-

ucational programs aimed at introducing up-to-date

teaching methods and programs to provide the oppor-

tunities for adults and the unemployed to take part

in formal and / or informal education. A number of

programs should be initiated to start technical schools

and fee-paying international corporations to train un-

skilled workers in the ﬁeld of information technology,

petrochemistry and electronics (those who could not

get industrial jobs, the government could increase the

number of labor-intensive retail services such as in

the sphere of tourism and transport). Taking into ac-

count the analysis of the development of human cap-

ital, it is advisable to take the experience of Singa-

pore as a basis,and to recommend to develop a Strat-

egy for Involving Multinational Organizations in La-

bor Training in Ukraine, and to work out a Strategy

for uniting the country’s largest technical universities

with the purpose to develop advanced clusters for the

research of future technologies and ensure the pres-

ence of the association members in public, political

and economic circles to warrant a high level of train-

ing of future personnel.

At the level of the Department of Scientiﬁc and

Technical Development and the Ministry of Economy

of Ukraine it is worthwhile to introduce a New Plan

M3E2 2022 - International Conference on Monitoring, Modeling Management of Emergent Economy

for the Development of Research Innovative Enter-

prises until 2025, that allows to take into account the

successful USA experience.

At the level of the Ministry of Finance of Ukraine,

alongside the Ministry of Economy of Ukraine, it

is important to assist small and medium enterprises

(SMEs) in accelerating technology implementation

and helping the population expand its digital poten-

tial.

At the level of the Cabinet of Ministers of Ukraine

it is expedient to introduce Programs of funding edu-

cational institutions regardless of the form of owner-

ship, to develop an effective formula of mixed ﬁnanc-

ing in various proportions, which implies a gradual re-

duction of state funding while increasing the share of

private funding (Singapore experience), to stimulate

government to invest in the education of Ukrainian

students in the best universities in the world, while

creating leading research and educational centers at

home.

At the level of the Ministry of Digital Transfor-

mation of Ukraine, it is recommended to introduce

an online resource with a view to increasing the dig-

ital competence of citizens, following the example of

Digital Competence. The introduction of the ana-

logue of such a program will give impetus to digi-

tal initiatives, the increase in digital competencies of

Ukrainian citizens as well as the use of the Danish

“Digital Literacy Manifesto”, which will stimulate the

development of digital skills and critical thinking.

Implementation of the suggested measures within

the framework of achieving educational and scientiﬁc

breakthrough will allow to increase the overall indi-

cator of the educational component in order to ensure

the national economy innovative development.

The limitations of the study are impossibility to

take into account the state of education in Ukraine

during the war. In our opinion, the deterioration of the

state of the educational component of the state’s inno-

vative development is expected and obvious. Among

the positive expected educational trends is the growth

of digital literacy of the population and the develop-

ment of new technologies. Therefore, the study of

the educational component and the development of

mechanisms to ensure its strengthening in the post-

war period will be an important and priority area of

the future research.

ACKNOWLEDGEMENTS

This study was carried out in the framework of co-

operation with the Ministry of Economy of Ukraine

(was named the Ministry of Economic Development,

Trade and Agriculture of Ukraine at the moment of

the project) under the project ”Synergy of knowledge,

experience and creativity for the future”.

REFERENCES

Agrawal, A., Kumar, C., and Mukti, S. K. (2021). Role

of Information and Communication Technology (ICT)

to Enhance the Success of Knowledge Management

(KM): a Study in a Steel Plant. Journal of the Knowl-

edge Economy, 12(4):1760–1786. https://doi.org/10.

1007/s13132-020-00694-6.

Bene

sov

a, A. and Tupa, J. (2017). Requirements for Ed-

ucation and Qualiﬁcation of People in Industry 4.0.

Procedia Manufacturing, 11:2195–2202. https://doi.

org/10.1016/j.promfg.2017.07.366.

Bhattacharya, A., editor (2017). Strategic human

capital development and management in emerg-

ing economies. IGI Global. https://doi.org/10.4018/

978-1-5225-1974-4.

Bondarchuk, O., Balakhtar, V., Gorova, O., Lytvynenko, N.,

Pinchuk, N., Shmanko, O., Kiv, A., and Oleksiuk, V.

(2022). Features of responsibility of future specialists

of the socionomic professions as an indicator of their

digital competence. Educational Technology Quar-

terly, 2022(1):35–55. https://doi.org/10.55056/etq.12.

Braunstein, A., Deutscher, V., Seifried, J., Winther, E., and

Rausch, A. (2022). A taxonomy of social embed-

ding – a systematic review of virtual learning simu-

lations in vocational and professional learning. Stud-

ies in Educational Evaluation, 72:101098. https://doi.

org/10.1016/j.stueduc.2021.101098.

Csom

os, G. (2020). Introducing recalibrated academic

performance indicators in the evaluation of individu-

als’ research performance: A case study from East-

ern Europe. Journal of Informetrics, 14(4):101073.

https://doi.org/10.1016/j.joi.2020.101073.

Dutta, S., Lanvin, B., and Wunsch-Vincent, S., edi-

tors (2020). Global Innovation Index 2020: Who

Will Finance Innovation? Ithaca, Fontainebleau,

and Geneva, 13 edition. https://www.wipo.int/edocs/

pubdocs/en/wipo

pub gii 2020.pdf.

Engstrand,

A.-K. and Enberg, C. (2020). The power in posi-

tionings: A Foucauldian approach to knowledge inte-

gration processes. Management Learning, 51(3):336–

352. https://doi.org/10.1177/1350507620904307.

Hrynevych, L., Morze, N., Vember, V., and Boiko, M.

(2021). Use of digital tools as a component of stem

education ecosystem. Educational Technology Quar-

terly, 2021(1):118–139. https://doi.org/10.55056/etq.

24.

Ilyash, O., Trofymenko, O., Dzhadan, I., and Tsarova,

T. (2021). Ecological and economic effects of in-

dustrial and technological development. IOP Con-

ference Series: Earth and Environmental Science,

915(1):012004. https://doi.org/10.1088/1755-1315/

915/1/012004.

Ilyash, O. I. and Stefaniak, V. I. (2012). Zastosuvannia tak-

sonomichnoho analizu yak instrumentu derzhavnoho

Multidimensional Analysis of Educational Indicators of the National Economy Innovative Development

rehuliuvannia ta otsinky rivnia sotsialnoi bezpeky

Ukrainy [Applying of taxonomic analyses as a tool of

state regulation and estimation of the social safety’s

level of Ukraine]. Ekonomichnyi prostir, (65):80–91.

IMD - International Institute for Management De-

velopment (2022). World Competitiveness

Center Rankings. https://www.imd.org/centers/

world-competitiveness-center/rankings/.

Kahkonen, S. (2018). Why Ukraine’s Educa-

tion System is Not Sustainable. https:

//www.worldbank.org/en/news/opinion/2018/09/12/

why-ukraines-education-system-is-not-sustainable.

Karpenko, M. M. (2015). Osvita protiahom zhyttia

yak chynnyk liudskoho rozvytku. Analitychna za-

pyska [Lifelong learning as a factor of human de-

velopment. Analytical note]. http://old2.niss.gov.ua/

articles/1865/.

Kelley, T. R. and Knowles, J. G. (2016). A conceptual

framework for integrated STEM education. Interna-

tional Journal of STEM education, 3(1):1–11. https:

//doi.org/10.1186/s40594-016-0046-z.

Kobets, V. and Yatsenko, V. (2019). Inﬂuence of the

Fourth industrial revolution on divergence and con-

vergence of economic inequality for various coun-

tries. Neiro-Nechitki Tekhnolohii Modelyuvannya

v Ekonomitsi, 2019(8):124–146. https://doi.org/10.

33111/nfmte.2019.124.

Kok, W. (2004). Facing the challenge: the Lis-

bon strategy for growth and employment.

Ofﬁce for Oﬁcial Publications of the Eu-

ropean Communities, Luxembourg. https:

//www.bmuv.de/ﬁleadmin/bmu-import/ﬁles/pdfs/

allgemein/application/pdf/facing the challenge.pdf.

Kucherova, H., Honcharenko, Y., Ocheretin, D., and Bil-

ska, O. (2021). Fuzzy logic model of usability of

websites of higher education institutions in the con-

text of digitalization of educational services. Neiro-

Nechitki Tekhnolohii Modelyuvannya v Ekonomitsi,

2021(10):119–135. https://doi.org/10.33111/nfmte.

2021.119.

Kuybida, V., Petroye, O., Fedulova, L., and Androshchuk,

G. (2019). Digital competences as a condition to the

development of quality of human capital. Zbirnyk

naukovykh prats Natsionalnoi akademii derzhavnoho

upravlinnia pry Prezydentovi Ukrainy, (1):118–133.

http://nbuv.gov.ua/UJRN/znpnadu 2019 1 16.

Le, L. T. B., Tran, T. T., and Tran, N. H. (2021). Challenges

to STEM education in Vietnamese high school con-

texts. Heliyon, page e08649. https://doi.org/10.1016/

j.heliyon.2021.e08649.

Leiber, T. (2018). Impact evaluation of quality manage-

ment in higher education: a contribution to sustain-

able quality development in knowledge societies. Eu-

ropean Journal of Higher Education, 8(3):235–248.

https://doi.org/10.1080/21568235.2018.1474775.

Mane, F. and Miravet, D. (2016). Using the job require-

ments approach and matched employer-employee data

to investigate the content of individuals’ human capi-

tal. Journal for Labour Market Research, 49(2):133–

155. https://doi.org/10.1007/s12651-016-0203-3.

Marchiori, D. M., Rodrigues, R. G., Popadiuk, S., and

Mainardes, E. W. (2022). The relationship between

human capital, information technology capability, in-

novativeness and organizational performance: An in-

tegrated approach. Technological Forecasting and So-

cial Change, 177:121526. https://doi.org/10.1016/j.

techfore.2022.121526.

Nedelko, Z., Jev

senak, S., et al. (2019). Strategies and

tools for knowledge management in innovation and

the future industry. In The role of knowledge trans-

fer in open innovation, pages 179–202. IGI Global.

https://doi.org/10.4018/978-1-5225-5849-1.ch009.

Research, Innovation and Enterprise Secretariat

(2016). Research Innovation and Enter-

prise 2020 Plan: Winning the Future through

Science and Technology. https://www.mti.

gov.sg/-/media/MTI/Resources/Publications/

Research-Innovation-and-Enterprise-RIE-2020/

RIE2020.pdf.

Riley, K. A. and Nuttall, D. L., editors (1994). Mea-

suring Quality: Education Indicators: United King-

dom and International Perspectives . Routledge.

https://eric.ed.gov/?id=ED374559.

Russo, V. (2020). Digital Economy and Society Index

(DESI). European guidelines and empirical applica-

tions on the territory. In Qualitative and Quantita-

tive Models in Socio-Economic Systems and Social

Work, pages 427–442. Springer. https://doi.org/10.

1007/978-3-030-18593-0 31.

Santacreu, A. M. and Zhu, H. (2018). Has China

Overtaken the U.S. in Terms of Innovation?

https://www.stlouisfed.org/on-the-economy/2018/

march/china-overtaken-us-terms-innovation.

Schleicher, A. (2019). PISA 2018: Insights and Inter-

pretations. OECD Publishing. https://www.oecd.

org/pisa/PISA%202018%20Insights%20and%20Inter

pretations%20FINAL%20PDF.pdf.

Schwab, K., editor (2018). The Global Competitiveness Re-

port 2018. World Economic Forum, Cologny/Geneva.

https://www3.weforum.org/docs/GCR2018/05Full

Report/TheGlobalCompetitivenessReport2018.pdf.

State Statistics Service of Ukraine (2021). Statistics. http:

//www.ukrstat.gov.ua/.

Thakur, P. and Arora, R. (2022). Exploring the Rela-

tionship Between Satisfaction and Intention to Stay

Among Millennial Employees: The Moderating Role

of Managerial Support. International Journal of Hu-

man Capital and Information Technology Profession-

als (IJHCITP), 13(1):1–17. https://doi.org/10.4018/

ijhcitp.293229.

Trofymenko, O., Shevchuk, O., Koba, N., Tashcheiev,

Y., and Pavlenco, T. (2021). Knowledge and

innovation management for transforming the ﬁeld

of renewable energy. In International Conference

on Artiﬁcial Intelligence and Sustainable Comput-

ing, pages 73–87. Springer. https://doi.org/10.1007/

978-3-030-82322-1 6.

UNDP (2019). Human Development Report 2019. Beyond

income, beyond averages, beyond today: Inequalities

in human development in the 21st century. https://doi.

org/10.18356/838f78fd-en.

M3E2 2022 - International Conference on Monitoring, Modeling Management of Emergent Economy

Valero, A. and Van Reenen, J. (2019). The economic im-

pact of universities: Evidence from across the globe.

Economics of Education Review, 68:53–67. https:

//doi.org/10.1016/j.econedurev.2018.09.001.

Williams, R. and Leahy, A. (2020). U21 Ranking of Na-

tional Higher Education Systems 2020. https://doi.

org/10.6017/ihe.2016.84.9107.

World Bank (2019). World Development Report 2019 : The

Changing Nature of Work. World Bank, Washington,

DC. https://doi.org/10.1596/978-1-4648-1328-3.

WorldBank (2021). The Human Capital Index 2020 Up-

date: Human Capital in the Time of COVID-19. https:

//doi.org/10.1596/978-1-4648-1552-2.

Zhylinska, O., Melnychuk, O., Antoniuk, L., Humenna,

O., Radchuk, A., Stoliarchuk, Y., Taruta, S., Khar-

lamova, H., Chala, N., and Shnyrkov, O. (2017).

Ukraina — 2030: Doktryna zbalansovanoho rozvytku

[Ukraine – 2030: The doctrine of balanced develop-

ment]. Kalvariia, Lviv, 2 edition. http://ukraine2030.

org/img/ book/E-Book-Doctrine-2030.pdf.

Multidimensional Analysis of Educational Indicators of the National Economy Innovative Development