The Russian Federation, zvertatiana@yahoo.com, +37257273095. We are greatful to Jos J. L. T. Blank and Theo A. J. Toonen for granting scientific literature. The paper is focused on analyzing net-based practices in Higher Education Institutions (HEIs) as a policy tool for instituting a sustainable social and economic development. The purpose of the study is to identify relationships between net-based HEIs and welfare perspective; to investigate the extent to which the use of innovative education

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... can affect societies. The paper challenging the argument HEIs that perform badly have a significant negative impact on economic and social growth. The main challenge is to identify the technical, economical and social aspects of HEIs as indicators of this impact, to consider outcomes for stakeholders of society. The research draws upon E-learning as mostly effective means of reducing cost of educational services of HEIs, aims to summarize the main findings of the scientific findings. The case studies show how the effectiveness of using net learning in HEIs can lead to social and economic growth in the countries concerned. Of particular importance are the differences between developed and developing countries. Upon the examination it becomes clear that Eskills have become the effective way to overcome differences among human, social capitals of countries by significant positive effect on wage levels. Trough showing the productivity paradox in innovative HEIs the paper tries to explain divides between counties, the importance of new policies in HEIs for governments. This research will provide valuable information regarding public regional decision-making in establishing organizational structures for efficiency (social benefits) of lifelong learning, provides novel insight into the understanding of E-education becoming the benchmark for HEIs and global economies.