HIGHER EDUCATION POLICY AND ITS IMPACT ON MACROECONOMIC DEVELOPMENT: EVIDENCE FROM KAZAKHSTAN

Abstract

Higher education plays an important role in building human capital and stimulating economic growth. The aim of this research is to examine the impact of the relationship between the higher education policy and Kazakhstan’s macroeconomic development by focusing on key economic indicators. The study employs a macroeconomic approach, using secondary statistical data from official sources, including the Bureau of National Statistics of Kazakhstan and the QS World University Rankings. A panel data set covering the period from 2001 to 2023 enables an analysis of the long-term trends. The results show that higher education reforms have contributed to reducing the number of universities, strengthening academic autonomy and increasing the international competitiveness of universities. However, structural problems remain, such as an insufficient adaptation of educational programmes to the demands of the labour market, limited research funding and insufficient integration of innovation into universities. These findings suggest that policymakers should focus on improving higher education financing mechanisms, strengthening the integration of universities with the labour market and increasing their contribution to the development of national innovation. Future research may focus on the impact of higher education policies on employment and income growth, as well as the long-term effects of the digitalisation of education on adaptations to the labour market.

Keywords: higher education, education policy, economic development, human capital, university reform, labor market integration