Measuring Efficiency of Financial Support in Lifelong Learning System: A Case Study of Ukrainian Regions

Authors: Giorgi Jikia, Project manager, DVV International, Georgia country office, Georgia Anna Vorontsova , Researcher of the scientific research work; Head of the scientific organization of students, postgraduates and young scientists of ERI BT “UAB”, Sumy State University, Ukraine Yuriy Petrushenko , Doctor of Economics, Head of the Department of International Economics, Sumy State University, Ukraine Pages: 84-92 DOI: 10.21272/bel.1(4).84-92.2017 Download: Views: Downloads: 4 3 Abstract The development of a quality lifelong learning system (LLLS) provides the possibility of obtaining education of various forms (institutional, individual, dual), levels (pre-school, full secondary education, higher education, adult education, etc.), types (formal, non-formal, informal), from different providers and for the rest of human life. It is this system that will allow an individual not only to realize the potential and improve the quality of life, but also to balance the labor market, will promote socio-economic development of the community, region, country, etc. However, in order for this system to function effectively, it is necessary to introduce changes to the financial mechanism, which would involve the effective use of the available, and the attraction of additional financial resources. This article investigates the essence of the notion of efficiency and analyzes the basic methods for its measurement. Thus, the main goal of this study is to measure the effectiveness of the existing financial support of the lifelong learning system in regions of Ukraine through stochastic frontier analysis. Calculations are made using the computer programme FRONTIER 4.1. This will allow to develop the further action plan and formulate tasks for regional financial policy for the establishment of public-private partnership and the use of a wider range of tools for the financial support of the LLLS.