ORCID ID: https://orcid.org/0000-0002-9458-2843
PROSPECTS FOR THE IMPLEMENTATION OF NEW INSTRUMENTS FOR EDUCATION FINANCING IN UKRAINE
Abstract. The article is devoted to the problems of financing education. Issues of improving the financing mechanisms of education through the introduction of new tools are considered. The budget deficit and the limited sources of funding for education update the analysis of the possibilities of using foreign experience in the use of vouchers (certificates) and educational bonds (or social bonds). Particular attention is paid to the analysis of the experience of developed countries regarding the circulation of vouchers, educational and social bonds. It is noted that vouchers are an effective tool for funding education for gifted children from low-income families. Educational bonds are a simple, flexible and tax efficient way of investing in a child’s education. Educational bonds provide an opportunity to save on education and provide funding at all levels of education: from pre-school to university. Social bonds are a productive form of investment in the social and economic development of European countries. Private investors provide capital through financial market instruments to launch or expand socio-economic programs that provide public goods, primarily education funding. This scheme is mutually beneficial for all participants. Social bonds have the potential to attract large amounts of capital to finance social services. And the European Commission aims to facilitate and ensure the effective exchange of experience among the EU Member States on the development of the social bond market. The conclusion is drawn about the possibilities of introducing these financial market instruments into domestic practice. A simplified scheme of financing education through educational and social bonds in Ukraine is presented.
Keywords: education financing, educational bonds, social bonds, vouchers, social vouchers, certificates.
JEL classification: H41, H52, I22, I28.