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Development of financial mechanisms of investment education and science

Author

Listed:
  • Byrkovich T.I.
  • Butnyk O.O.

    (Kyiv National University of Culture and Arts)

Abstract

We investigate the source of funding educational and scientific sphere in Ukraine. The sources of funding of the Special Fund for Education in Ukraine are: money received from providing additional educational services; sponsorship funds; funds charities; funds received from the provision of commercial services; tuition fee; borrowed funds: funds of bank and non-bank lending; Public Lending (scholarships) to study in leading national and foreign universities; funds (grants) received from participation in international cooperation institutions (international projects); international aid. In addition, the role of donors the necessary financial resources to implement specific projects of the education system can serve government agencies of different countries, international organizations, non-profit organizations, including NGOs, individuals.It was found that the transformation of scientific and educational complex of Ukraine in the context of joining the Bologna process opens up new sources of foreign investment, such as grants, stock support and sponsorship, but the use of these sources runs into staffing problems Ukrainian educational sphere (lack of knowledge of foreign languages native teachers) and the lack of motivation mechanism on the part of entities providing educational services. We studied the experience in the field of financing of fundamental and applied research developed Western countries, where today the development of innovative sectors of the economy is one of the essential factors of economic growth. The main areas of revenue growth of universities that can be used to finance fundamental research.

Suggested Citation

  • Byrkovich T.I. & Butnyk O.O., 2015. "Development of financial mechanisms of investment education and science," Management, Academy of Municipal Administration, vol. 8(2), pages 32-39, April.
    • Handle: RePEc:ama:journl:v:8:y:2015:i:2:p:32-39
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    File URL: http://visnyk.amu.edu.ua/repec/archive/2_2015/32-39.pdf
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