The Impact of Educational Factor on Innovation and Competitiveness of Middle-Income Countries
Purpose: The main purpose of the paper is to analyze the educational factor’s impact on innovation and competitiveness of an economy, with reference to developing countries, which are counted among the group of middle gross national income (GNI) per capita economies. Design/methodology/approach: Data covering the period 2018-2019 have been utilized, where applicable, and as measures of educational factor the following sub-indices have been adopted: two main pillars and one sub-pillar of GTCI, two sub-pillars of GII, as well as the sixth pillar of GCI. Research has been carried out using the following methods: data normalization, linear and multiple regression analyses, partial correlation analysis. Findings: Clear relationships between education, innovation and competitiveness have been confirmed based on available statistical data. Economy grouping’s peculiarities depend on their stage of socio-economic development: high quality education is important for all countries, but in high income economies with knowledge and information-based economy the role of higher education and sophisticated professional skills seem to be predominant, whereas general education and vocational skills importance can be observed for middle income followers. Practical implications/limitations: Due to paper requirements and restricted data availability research has been based only on the latest data concerning the period 2018-2019. If the research had included level 2 components of GII, GCI and GTCI, obtained results would have been more accurate and meaningful, although paper volume would have been significantly exceeded. Promising area of future interest are pandemic consequences for education-driven innovation and competitiveness, but such assessments can be possible in years to come, probably even after a decade. Originality/value/contribution: The role of education has been analyzed in the context of other non-educational components of selected global indices. Apart from presenting their quite strong correlations, some differences between country groups have been also emphasized, i.e., in what degree different education-related factors can influence their innovation and competitiveness capacities.