Emerging Markets’ Higher-Education Challenge

As many high-income economies continue to flounder, many regard Brazil, China, India, Russia, and smaller emerging-market countries as the best hope for short-term global recovery. But, unless constraints to longer-term growth, including weak tertiary education, are addressed soon, the emerging markets’ rise to prosperity and global influence will be short-lived.

LONDON – As many high-income economies continue to flounder, many regard Brazil, China, India, Russia, and smaller emerging-market countries as the best hope for short-term global recovery. Cautious optimism seems justified if emerging markets can weather the impact of shrinking demand for their exports, and sustain their recent records of prudent macro-economic management. But, unless constraints to longer-term growth are addressed soon, the emerging markets’ rise to prosperity and global influence will be short-lived.

The main constraints include environmental degradation, economic deprivation, social inequality, ineffective public-sector management, and weak corporate governance. None of these challenges can be overcome without a massive increase in the number of competent and motivated leaders and professionals. But that requires reforming and expanding access to post-secondary education.

Tertiary education’s pivotal importance in emerging markets was emphasized at a recent symposium that I chaired at Green Templeton College, Oxford. We concluded that expanding access to higher education could be a game-changer for emerging markets if they act promptly and decisively.

To continue reading, please log in or enter your email address.

To access our archive, please log in or register now and read two articles from our archive every month for free. For unlimited access to our archive, as well as to the unrivaled analysis of PS On Point, subscribe now.

required

By proceeding, you agree to our Terms of Service and Privacy Policy, which describes the personal data we collect and how we use it.

Log in

http://prosyn.org/5wmWaJZ;

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated cookie policy and privacy policy.