Index for Measurement of the Level of Tertiary Education in Developing Countries: Theory and Application

Abstract

A new index for measurement of the level of tertiary education in developing countries is constructed. This index shows the level of readiness of the new generation to function in a developed country. In other words, this indicator characterizes the degree of intimacy of knowledge and competencies of the new generation for the conditions, which the domestic country strives to achieve. Index is based on the calculation of the quantity of talents in science, who are able to adapt to the conditions of working and living in developed countries. An example of the index calculation using the available statistical data is presented. Surprisingly, the values of the index for the level of tertiary education in Russia and Ukraine are extremely low. Empirical evidences suggest that the index correctly characterizes the state of the system of tertiary education in these countries too.

Keywords: tertiary education, developing countries, measurement, index, empirical analysis

JEL Classification: C82, I21, J24, O15, P45, P51