<abstract xmlns="http://www.w3.org/1999/xhtml"><bold>Background:</bold> Higher education has the main role in generating innovative activity in knowledge-based economies. Therefore, the efficiency of the higher education sector reflects the alignment of the higher education policy with government expenditure. However, countries in Central and Eastern Europe (CEE region) have been struggling with national budget optimisation, which can cause fiscal stress and thus affect the efficiency of higher education.<bold>Objectives:</bold> The main objective is to examine mutual interaction of higher education indicators, through formulating financial models that connect performance and financial indicators.<bold>Methods/Approach:</bold> A total of 4 higher education indicators were analysed and observed in the time period of 10 years in selected CEE countries. The statistical analysis was based on panel data models.<bold>Results:</bold> The main result of the paper is the analysis of coherency of selected higher education indicators in selected CEE countries in order to establish functional links between government expenditure and efficiency through formulating financial models.<bold>Conclusions:</bold> Formulated financial models can predict the behaviour of selected performance indicators, depending on financial indicators. Therefore, the obtained models can contribute to the efficient allocation of funds and comprehensive macro-level decision making assessments in higher education policy reforms.</abstract>

Background: Higher education has the main role in generating innovative activity in knowledge-based economies. Therefore, the efficiency of the higher education sector reflects the alignment of the higher education policy with government expenditure. However, countries in Central and Eastern Europe (CEE region) have been struggling with national budget optimisation, which can cause fiscal stress and thus affect the efficiency of higher education.Objectives: The main objective is to examine mutual interaction of higher education indicators, through formulating financial models that connect performance and financial indicators.Methods/Approach: A total of 4 higher education indicators were analysed and observed in the time period of 10 years in selected CEE countries. The statistical analysis was based on panel data models.Results: The main result of the paper is the analysis of coherency of selected higher education indicators in selected CEE countries in order to establish functional links between government expenditure and efficiency through formulating financial models.Conclusions: Formulated financial models can predict the behaviour of selected performance indicators, depending on financial indicators. Therefore, the obtained models can contribute to the efficient allocation of funds and comprehensive macro-level decision making assessments in higher education policy reforms.

Analysis of Higher Education Indicators Coherency in Central and Eastern Europe

Faculty of Sciences, Department of Mathematics and Informatics

Business Systems Research Journal

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Analysis of Higher Education Indicators Coherency in Central and Eastern Europe"}

Background: Higher education has the main role in generating innovative activity in knowledge-based economies. Therefore, the efficiency of the higher...

Analysis of Higher Education Indicators Coherency in Central and Eastern Europe

Published Online: Sep 16, 2019

Page range: 6 - 17

Received: Jun 18, 2018

Accepted: Jan 03, 2019

DOI: https://doi.org/10.2478/bsrj-2019-014

Keywords
higher education, government expenditure, UNESCO higher education indicators, panel data models, CEE region

© 2019 Andrea Andrejević Panić et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Analysis of Higher Education Indicators Coherency in Central and Eastern Europe

Published Online: Sep 16, 2019

Page range: 6 - 17

Received: Jun 18, 2018

Accepted: Jan 03, 2019

DOI: https://doi.org/10.2478/bsrj-2019-014

Keywordshigher education, government expenditure, UNESCO higher education indicators, panel data models, CEE region

© 2019 Andrea Andrejević Panić et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
higher education, government expenditure, UNESCO higher education indicators, panel data models, CEE region