Differences in the levels of human capital and the countries’ abilities to maintain, attract, and expand it within them determine the opportunities of innovative development and the future economic growth. That is why, as a rule, all the international comparative assessments of the innovative development levels begin with human resources assessments. The most important investments determining the development of human resources are those in education and scientific research. The goal of this research is to identify the potential of the Eurasian Economic Union (EAEU) countries in the formation of innovative economies based on highly qualified cadres, using the current achievements of science and technology for the growth of their population’s well-being. EAEU came into force in January 2015; it includes Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan. The article considers the issue of financing education of the EAEU countries; it identifies the problems affecting the quality of training specialists as well as correlations between education and development of scientific research. There were also made attempts to assess the effectiveness of education and science which determine the opportunities for forming modern innovative economies in the EAEU countries and the growth of their citizens’ well-being.
Part of the book: The Essence of Academic Performance