FINANCIAL AND ECONOMIC ASPECTS OF LOSS HUMAN CAPITAL AND COMBATING THIS CHALLENGE OF UKRAINIAN HIGHER EDUCATION

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DOI:

https://doi.org/10.18371/fcaptp.v4i39.241443

Abstract

Abstract. The loss of human capital is a significant projected loss for the country's economy. Higher education must analyze the challenges, maintain the quality of human capital at the level necessary for the functioning of the economy, and train professionals in a permanent crisis. The multi-vector nature of the crisis leads to a negative multiplier effect of the influence of external and internal factors on the level of human capital of the country in all institutional categories, so these challenges are emerging given their systemic nature. This primarily applies to the institute of higher education. The formation of a relevant response to the challenges of loss of human capital is not only a guarantee of the proper functioning of higher education, but also guarantees the success of its functioning for economic transformation in the country. The analytical study revealed economic losses from external migration of highly qualified personnel, reduction of the country's economic potential from the outflow of specialists. The narrowing of the base of high-quality reproduction of qualified personnel, the factor of disproportion in the financing of higher education and the reproduction of highly qualified personnel from budgetary sources and the growth of the share of self-financing were revealed. The analysis proved the inconsistency of the quality of the staff to the number of employees of higher education in the regions and the disproportion of the teaching staff with academic ranks. A study of the number of graduate students indicates that the disparity in quality will increase as there is a tendency to lose scientific schools in the regions. Weaknesses of higher education have been identified. To reduce the negative impact of this factor on the quality of human capital and, indirectly, on the country's economy, there is the urgent need to optimize public funding of human capital; to create regional funds for financing higher education, formascientific schools in the regions to eliminate regional disparities in training. Proposals for a policy of investing in human capital at all qualification levels have been developed, taking into account the effectiveness of such investments and also to stabilize the socio-economic situation in the country. The directions of forming the answer of higher school to the challenges of the economic crisis of the country are offered.

Keywords: higher education, human capital, economic losses, integrated indicators, analytical research.

JEL Classification I25, J24, J62, J82

Formulas: 0; fig.: 6; tabl.: 2; bibl.: 20.

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Published

2021-09-10

How to Cite

Svyrydenko, D. ., Hots, N. ., Kovtun, I. ., Panchenko, L. ., Semeniuk, R. ., & Dvigun, A. . (2021). FINANCIAL AND ECONOMIC ASPECTS OF LOSS HUMAN CAPITAL AND COMBATING THIS CHALLENGE OF UKRAINIAN HIGHER EDUCATION. Financial and Credit Activity: Problems of Theory and Practice, 4(39), 559–569. https://doi.org/10.18371/fcaptp.v4i39.241443

Issue

Section

The social-humanitarian context of transformational finance-economical processes