Regional Economics: Theory and Practice

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Integration of education and business as a challenge of innovation-driven economy

Vol. 17, Iss. 5, MAY 2019

Received: 18 February 2019

Received in revised form: 20 March 2019

Accepted: 28 March 2019

Available online: 16 May 2019


JEL Classification: I22, I25

Pages: 945–958

Frumina S.V. Finance University under Government of Russian Federation, Moscow, Russian Federation

ORCID id: not available

Subject The article considers interaction tools of educational institutions and business structures.
Objectives The focus is on perfecting the tools of interaction between universities and the business in the modern economy.
Methods The study employs methods of dialectical cognition (comparative analysis and synthesis of theoretical and practical material), empirical research methods (comparison, data gathering and examination), grouping, and systems approach.
Results I underpin the need for integration of education and business, reveal general trends in the interaction of universities and private corporations in foreign countries, systematize barriers hampering the cooperation between universities and the business in the Russian Federation, offer updates to the strategic planning documents of the Russian Federation. Training process should meet the challenges of the modern innovative economy, consider trends in digitalization and the needs of business structures for employee training and education.
Conclusions The practical significance of the study is in the possibility to apply the findings by federal executive authorities elaborating the target indicators and key measures within the ‘Education Development’ government program, and by higher educational institutions ensuring interaction with business structures.

Keywords: education, university, innovative economy, business, integration, government program


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