Education for Structural Change and Innovativeness of the Economy in Latvia

AbstractEducation has to support structural change for providing a contribution to the entrepreneurship and strengthening the labour markets through the development of innovative framework in economy. This is required by the tendencies of a modern economy and the increasing competition. However, the reaction of labour markets in Latvia at this moment on changes in the sectoral composition of economy could be characterized as weakly expressed and thus does not correspond with the aims to develop innovative economy. Human capital is recognized as one of the main resources in Latvia, therefore efforts should be directed to the increasing the quality of this resource, which is such important for developing the innovative economy. Education, in turn, is a main tool for achieving high quality for human capital. Taking into account the above mentioned, the article examines the issue on how education contributes to supporting the structural change and bringing Latvia closer to the innovative framework