International Mechanisms of Human Capital Development and Knowledge Creation The Role of Educational Institutions
The paper looks at the existing and potential instruments of knowledge and innovation transfer, exchange and creation that could be effectively utilized by universities and schools in order to build up human capital. In the global knowledge-based economy, the quality of interaction between the producers, distributors and users of innovations are one of the keys to successful and sustainable development. However, there are significant communication gaps between educational institutions, advanced businesses and policymakers, which prevent the efficient transfer of innovations and impede the processes of collaborative knowledge creation.
One of the working mechanisms for efficient human capital development, which has already been successfully employed by advanced universities around the world, is long-term bilateral or multilateral international partnerships. However, they are often limited to the participating educational institutions – while leaving aside other important knowledge-creation actors such as think tanks, advanced businesses (including global consultancies), and international development organizations which possess unique policy experience and knowledge related to implementation of large-scale developmental projects. It could be argued that there is a significant and urgent need for a comprehensive, systemic approach towards designing and utilizing multi-actor, consortium-based international partnerships between policy institutions, universities and businesses; such knowledge networks will enhance sustainable, equitable and democratic development.