Importance The article investigates the sector of higher education services, its condition and functions during global changes. Objectives The research formally describes the conditions, trends and functions of the higher education sector during global changes in terms of political economy, evolutionary and institutional theory of economics. I assume that currently the country needs education and other economic sectors develop consistently. Methods The research draws upon the general theory of political economy, and evolutionary and institutional theory of economics. Results Drawing upon the theory of intellectual capital, methods of structural, institutional, systems analysis and instrumental design, I demonstrate that the country needs a new functional framework to expand innovative education. Conclusions and Relevance The outcome may underlie the accelerated development of the national economy, when it enters its post-industrial phase; increase its internal and external efficiency. The practical results can be used by governmental authorities to formulate the national socio-economic development strategy.
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