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Historical and Theoretical Framework of the Relation between Higher Education Institutions and the Process of Regional Economic Development

Author

Listed:
  • Alexandru Cristian Fotea

    (Alexandru Ioan Cuza University of Iasi, Romania)

  • Corneliu Guțu

    (Academy of Economic Sciences of Moldova)

Abstract

Objective: The objective is to show how the relation between the higher education institutions and their surrounding environment has evolved over the centuries and how it can increase the economic competitiveness of regional and national economies. Research Design & Methods: For the literature review that illustrates the evolution of the relation between higher education institutions and its surroundings we used a qualitative analysis using various sources of information (books, articles, journals etc.) In order to capture the contribution of higher education to sustainable development of national economies in Eastern Europe we used an empirical analysis based on the data and statistics provided by the The Global Competitiveness Report. Findings: In the context of a contemporary global knowledge economy, higher education institutions contribute to the economic competitiveness of regions and nations by performing quality higher education and innovation activities. Implications & Recommendations: Both theoretical literature and practical evidence show that the relation between higher education institutions and the surrounding economies have helped eachother become more competitive. More than ever, nowadays regions and nations must foster and invest in the most important institutions that provide higher education and innovation which increase the competitiveness level. Contribution & Value Added: The originality of this work lies in displaying the historical evolution of higher education in relation to its surrounding environment and the comparative analysis of the two competitivity pillars higher education and innovation in Eastern Europe.

Suggested Citation

  • Alexandru Cristian Fotea & Corneliu Guțu, 2016. "Historical and Theoretical Framework of the Relation between Higher Education Institutions and the Process of Regional Economic Development," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 4(1), pages 23-42.
    • Handle: RePEc:krk:eberjl:v:4:y:2016:i:1:p:23-42
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    References listed on IDEAS

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    More about this item

    Keywords

    higher education institutions; regional economic development; socio-economic impact;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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