Development of financial and economic autonomy in the field of higher education

Abstract

The development of alternative management tools to the old management models increasingly requires the expansion of autonomy in the activities of higher education institutions. A prominent place in the system of autonomy of the university is occupied by the aspect of financial independence. This article is devoted to the analysis and generalization of key global trends in the development of financial autonomy by higher education institutions, highlighting the complex process of autonomy of universities, studying the world experience of expanding their autonomy on the right to dispose of funds and organize other financial processes. The study outlined further prospects for increasing the financial and economic independence of universities, clarified the current and projected limits of the powers of universities in the paradigm of developed and legally established model of autonomy, identified effective solutions to the complex process of financial and economic autonomy. The results of the study can be used to learn the processes of expanding the financial and economic  autonomy of higher education institutions in the global dimension.