Panel Analysis in Function of Measuring the Impact of Higher Education on International Competitiveness of the Western Balkan Countries

Abstract

An important aspect of the development and perspectives of the development of the socio-economic community refers to the level of coverage of the labor market with adequate staff in terms of expertise and competencies, which largely derive from the results of the educational process. Expressing and measuring the results of the educational process is a continuous and complex process, and requires the application of adequate methodology, such as a panel analysis model. The aim of the researchers is to examine the impact of higher education on appropriate macroeconomic indicators countries of the Western Balkans, which are not yet members of the European Union. The practice of such research has been formalized in Western European countries, where researchers have adequate access to the empirical material on which research is based, but also a standardized procedure for presenting appropriate indicators, which is not the case in the selected geographical area. The context of the educational process since the period of introduction and adoption of the determinants defined by the Bologna Declaration, is going through a turbulent process of transformation. The next turning point in the education system is justified by the pandemic caused by the COVID - 19 virus.