Knowledge and advanced skills are critical
determinants of a country's economic growth
and standard of living as learning outcomes
are transformed into goods and services,
greater institutional capacity, a more
effective public sector, a stronger civil
society, and a better investment climate.
Good quality, merit-based, equitable,
efficient tertiary education and research
are essential parts this transformation.
Both developing and industrial countries
benefit from the dynamic of the knowledge
economy. The capacity for countries to
adopt, disseminate, and maximize rapid
technological advances is dependent on
adequate systems of tertiary education.
Improved and accessible tertiary education
and effective national innovations systems
can help a developing country progress
toward sustainable achievements in the
Millennium Development Goals, particularly
those goals related to all levels of
education, health, and gender equity.
The World Bank is working to encourage not
only better-quality outcomes from tertiary
education worldwide, but also to promote
more efficient tertiary education
institutions that innovate and respond
positively to meaningful performance-based
allocation of resources and accountability
systems. Such improvements can stimulate
economic growth and help to stem the outward
flow of highly skilled human capital by
supporting cultures of quality and
productivity.
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