World-Class Universities: Conceptual Foundations, Core Characteristics, and Development Models

Amid intensifying global competition for knowledge and the growing prominence of innovation-driven economies, the concept of the world-class university (WCU) has emerged as a strategic objective for many countries. This article aims to synthesize the theoretical foundations of the WCU by examining the evolution of the concept, identifying its core characteristics, and classifying the principal development models adopted worldwide. The study employs a systematic literature review combined with conceptual and thematic analyses of influential scholarship on world-class universities. The findings indicate that the concept of the WCU has evolved from a narrow emphasis on research performance and international rankings toward a more comprehensive perspective that positions universities as central actors within innovation ecosystems and sustainable development. The study identifies eight defining characteristics of world-class universities: research excellence, concentration of talent, effective university governance, robust financial resources, internationalization, a strong research ecosystem, academic reputation, and societal contribution. Furthermore, it systematizes six major WCU development models and examines the experiences of China, South Korea, and Singapore. Based on these analyses, the article proposes several policy implications to support Vietnam in developing internationally competitive research universities that are closely integrated with innovation ecosystems and aligned with sustainable development goals.