Subject. This article explores the issues of public investment in higher education around the world. Objectives. The article aims to analyze the mechanisms of public investment in the higher education system in traditional models of the social welfare State and describe the particularities of the financing mechanism for higher education in Russia. Methods. For the study, I used the methods of statistical and comparative analyses, and a graphical statistics interpretation technique. Results. The article reveals the similarities and differences in public investments in higher education in traditional models of the social welfare State and in Russia. It also justifies the need to improve the mechanism used to formula-based finance higher education. Conclusions. Using indicators that reflect targets, together with input-oriented resource indicators, in calculating the amount of public investment provided can help improve the relationship between budget allocations and the performance of Russian educational institutions.
Keywords: government investments, traditional model, welfare state, higher education, formula-based funding
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