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

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.