The accumulation of knowledge and its use have become important factors that promote economic development as they contribute to a country's competitiveness in the global economy. The basic significance of research is obtained by defining new approaches in the organisation, function and efficiency of the higher education system (HES) by emphasising its qualitative aspects. The aim of the article is to describe the influence of education reform on economic competitiveness, paying a special attention to analysing and evaluating international experiences from an interdisciplinary perspective, including economics, pedagogy, etc. Quantitative indicators are used to characterise specific features of the HES and the interaction of this system in the overall context of state development. Some aspects of the Latvian HES are also analysed. The economic activity of inhabitants often directly depends on their level of education. In order to reorganise the Latvian HES and increase its competitiveness and efficiency, thus ensuring quality and availability, the Latvian education system must define a middle-term (4-5 years) and long-term (10-15 years) development plan that is coordinated with national economic development.