The economic benefits of lifelong learning in terms of innovative model of economy: comparative analysis

Abstract

The paper is devoted to the research of the economic benefits of lifelong learning in terms of innovative model of economy. The introduction outlines the importance of new knowledge and its rapid "aging", the role of lifelong learning in such conditions. The next stage was the research of scientific papers by the issue of lifelong learning, its benefits. The aim of the paper is to analyze the economic benefits of lifelong learning in terms of innovative model of economy and dependence of average wage from such factors as lifelong learning, higher education development, infrastructure and digital content and skills; relationship between these indicators. With regard to the aim, we have set the following hypothesis: we assume that there is a statistically significant correlation between total average wages, the Indicator of Lifelong learning, Higher Education development, Infrastructure and digital content and the Indicator of Skills. The analysis confirmed that the economic benefits, such as wage (personal) and gross domestic product (national general) have strong relationship with lifelong learning. Moreover, among the four factors of influencing on the average wages (the Indicator of Lifelong learning, Higher Education development, Infrastructure and digital content and the Indicator of Skills), the value of lifelong learning is rather significant, but less than infrastructure and digital content.