"When adjusted for GDP, Finland’s higher education system is the best in the world, according to the latest Universitas 21 (U21) rankings, which compare the higher education systems of countries instead of looking at the strengths and weaknesses of individual universities.The U21 report compares national systems using 24 indicators for 50 countries. These include expenditure on higher education, diversity of institution, government policy, industry links, enrollment rates and research performance. The indicators are divided into four modules: Resources, Policy Environment, Connectivity and Output.The authors say that the GDP-adjusted ranking provides insights into how a nation can improve its performance.
“Good outcomes require resources and appropriate government policies. Together these factors explain three quarters of the variation in outcomes,” explains Ross Williams, Professor, Melbourne Institute.