Improving the competitiveness of the Serbian economy through education reforms
Abstract
Our research analyses how the current reforms in the field of education could affect the competitiveness of the economy of the Republic of Serbia and what kind of reforms are necessary in this field in order to achieve sustainable growth and economic development. The analysis presents how the competitiveness of a country can be measured, covers questions on whether is education one of the indicators of competitiveness, evaluates competitiveness of the Serbian economy, reviews current state in all the relevant indicators in the field of education and considers all relevant reforms.
By using the Global Competitiveness Index and one of its pillars dealing with human capital, specifically indicators of Pillar 6 – Skills, we have shown that the quality of the human capital is one of the basic factors of competitiveness and that only quality education can lead to the rapid development of the economy and enhance greater competitiveness of a country. We have concluded that there is a great necessity in the Republic of Serbia for further reforms and investments in the education, especially in education of teaching staff and an innovative teaching programmes and curriculum for the most dynamic economy sectors, like ICT, trade, transport, tourism and financial services.
References
- Aiginger, K., Bärenthaler-Sieber, S., Vogel, J. (2013), “Competitiveness under New Perspectives“, Working Paper No. 44, WWW for Europe project;
- Aristotle, Burnet J., trans. (1967), “Aristotle on education; being extracts from the Ethics and Politics“, Cambridge University Press;
- Avelar, A., Bento A., Silva-Oliviera, K., Dayane, P., Raquel S. (2019), “Education for advancing the implementation of the sustainable development goals: A systematic approach“, The International Journal of Management Education, Volume 17, Issue 3, 100322;
- Awaworyi C.S., Ugur, M., Yew, S.L. (2017), "Government education expenditures and economic growth: A meta-analysis“, The B.E. Journal of Macroeconomics, No.17, 1–17;
- Barro, R. J, Lee, J-W. (2015), “Education Matters: In Global Schooling Gains from the 19th to the 21st Century“, Oxford University Press: Oxford, UK;
- Dumciuviene, D. (2015), “The impact of education policy to country economic development“, Procedia-Social and Behavioral Sciences, 191, 2427–2436;
- Dyba, A. (2012), “Research and Development Expenditure in the European Union – Chances and Challenges“, International Journal of Synergy and Research, 2, pp. 61-75;
- Đorđević S. (2008), "Government in action, the world of public services", Faculty of Political Sciences, University of Belgrade, Čigoja press;
- Fürstenau, B., Pilz, M., Gonon, P. (2014), “The Dual System of Vocational Education and Training in Germany – What Can Be Learnt About Education for (Other) Professions“, DOI: 10.1007/978-94-017-8902-8_16;
- Goczek L., Witkowska, E., Witkowski, B. (2021), “How Does Education Quality Affect Economic Growth?“ Sustainability 2021, 13, 6437. https:// doi.org/10.3390/su13116437;
- Greinert, W.-D. (2004), “European vocational training ‘systems’ - some thoughts on the theoretical context of their historical development“, Vocational Training No 32 European Journal;
- Gvozdenović, S. (2011), "Education and other related concepts", Sociological chapter V/2, Faculty of Philosophy Nikšić;
- Hanushek, E. A. (2016), “Will more higher education improve economic growth?“, Oxford Review of Economic Policy, Volume 32, Nо. 4, 2016, pp. 538–552;
- Hanushek, E. A, Jamison, D. T, Jamison, E. A, Woessmann, L. (2008),, “Education and Economic Growth - It’s not just going to school, but learning something while there that matters“, Publication: Education Next 8 (2), pp. 62-70;
- Klaus, Ed. S. (2019), “The Global Competitiveness Report 2019“, World Economic Forum;
- Krugman, P. (1994), “Competitiveness a dangerous obsessiоn“, Foreign Affairs, Vol.73, No. 2, , p. 28-44;
- Leković, V. (2016), "Institutional determination of the competitiveness of the national economy: lessons for the Republic of Serbia" in Marinković, V., Janjić, V., Mićić, V. (edited) "Improving the competitiveness of the economy of the Republic of Serbia", Faculty of Economics, University of Kragujevac;
- Porter, E. M. (2008), "On competition", Faculty of Economics, Finance and Management, Belgrade;
- Porter, E. M. (1990), “The Competitive Advantage of Nations“, Harvard Business Review, https://hbr.org/1990/03/the-competitive-advantage-of-nations;
- Petrović, P., Gligorić Matić, M. (2021), "Convergence of the periphery towards the developed EU and the factors that determine it: Empirical research and implications for Serbia", University of Belgrade, Faculty of Economics, Center for Publishing;
- Radulović, L., Stančić, M. (2017), "What is Needed to Develop Critical Thinking in Schools?" CEPS Journal, Vol.7, No 3, p.p. 9-25;
- Stanišić, N., Milovanović, G. (2016), "Comparative analysis of export competitiveness of the Republic of Serbia and other transition countries" in Marinković, V., Janjić, V., Mićić, V. (edited) "Improving the competitiveness of the economy of the Republic of Serbia", Faculty of Economics, University of Kragujevac;