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Addressing the challenges of Latvia’s Current Financing Model

Addressing the challenges of Latvia’s Current Financing Model. Adjunct Prof. Dr . Jussi Kivistö, World Bank Team September 24, 2014 Riga , Latvia. Contents. Background Analysis of strenghts and weaknesses of HE financing in Latvia (Report 1)

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Addressing the challenges of Latvia’s Current Financing Model

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  1. Addressing the challenges of Latvia’s Current Financing Model Adjunct Prof. Dr. Jussi Kivistö, World Bank Team September 24, 2014 Riga, Latvia

  2. Contents • Background • Analysis of strenghts and weaknesses of HE financing in Latvia (Report 1) • Assessment of current funding model’s ‘Strategic Fit’ with Latvian higher education policy objectives (Report 2) • Identified main challenges of Latvia’s current financing model (Report 3)

  3. Background • The World Bank Team has identified main challenges associated with Latvia’s current approach to financing higher education and research based on assessment in • Analysis of strengths and weaknesses of higher education financing in Latvia (Report 1) • Assessment of current funding model’s ‘Strategic Fit’ with Latvian higher education policy objectives (Report 2) • Assessments and identified challenges are organized by the four topics: • State funding • Resource diversification • Financial autonomy • Student financing

  4. Analysis of strengths and weaknesses of higher education financing in Latvia • Provided a comprehensive analysis of the strengths and weaknessesof Latvia’s current approach to higher education financing based on existing data, a document review and stakeholder interviews • Process of assessing strengths and weaknesses included: • Comparison to recent European developments and good international practice • Comparison against general criteria for “good “funding models • Extensive input from stakeholder consultations

  5. Analysis of strengths and weaknesses of higher education financing in Latvia(Report 1)

  6. A. Latvia in comparisonwithEuropeantrends in HE financing

  7. B. Criteria for ”good” funding models

  8. C. Input from stakeholder consultations • Stakeholder roundtable discussion in early December 2013 • Representatives of 19 stakeholder organisations • Initial discussion on strengths and weaknesses of the higher education funding model • Stakeholder interviews in early February 2014 • Over 100 representatives of 21 stakeholder organisations • Stakeholder views on strengths and weaknesses of the higher education funding model • Stakeholder assessment of importance of the criteria for “good” funding model

  9. Assessment of current funding model’s ‘Strategic Fit’ with Latvian higher education policy objectives(Report 2)

  10. Assessment of current funding model’s ‘Strategic Fit’ with Latvian higher education policy objectives • Identified the main policy objectives for Latvia’s higher education system and then assessed how the current funding model aligns with those objectives. Analysis was based on a reviewof 14 strategic policy documents published between the years 2005-2014 and stakeholder consultation event in March 2014. • The strategic objectives identified in the policy documents were clusteredinto the following nine thematic goals: • Increase the quality of education and link with the national economy • Increase the quality and (international) competitiveness of research • Increase sector efficiency • Enhance technology, innovation, creativity, and entrepreneurship • Renew and develop the human resources of higher education institutions • Stimulate participation in and access to higher education • Stimulate internationalization in higher education • Enhance funding base of higher education • Establish a new and transparent approach to quality assurance

  11. Summary of the “strategic fit” assessment

  12. Analysis of strengths and weaknesses of higher education financing in Latvia(Report 1) • Assessment of current funding model’s ‘Strategic Fit’ with Latvian higher education policy objectives(Report 2) Main challenges of the currentfinancingmodel

  13. Main challenges: overview State funding • Fundinglevel • Performanceincentives • Alignment of incentives and objectives • Alignment of teaching and researchfundingstreams • Fundingmodelarchitechture Diversificaton of financialresources • Fundingdiversity and sustainability Financial autonomy • Financial autonomy and accountability Studentfinancing • Studentsupport

  14. Challenges: State funding

  15. Challenges: State funding (continued)

  16. Challenges: Diversification of financial resources

  17. Challenges: Financial autonomy

  18. Challenges: Student financing

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