Government Expenditure on Education and Economic Growth

A Panel Data Analysis

Bibliographic Data

ID13072166
AuthorsMd Mizanur Rahman (0000-0002-5161-7487, Ministry of Public Administration, corresponding author)
Year2023
Volume23
Issue2
Pages30-46
Publication date2023-06-30
Open AccessYes
TypeARTICLE
VenueJournal of Community Positive Practices (JOURNAL)
Journal identifiersISSN: 2247-6571 • E-ISSN: 1582-8344
PublisherADPSE Catalactica Bucuresti (PUBLISHER)
DOI10.35782/jcpp.2023.2.03
OpenAlexW4385078121
LanguageEN
Citations received1
References cited10

The fiscal policy of the government determines the long-run economic growth through optimal decisions on government expenses. For robust economic growth and prosperity, efficient allocation of resources is a necessary condition. An efficient labor force will refer to high productivity and high economic growth. The main reason for expecting a link between education and economic growth is straightforward. Education certainly enhances efficiency, which increases productivity and is a precondition for long-run economic growth. This work attempted to find the correlation between public spending on education and economic growth and the magnitude of this relationship. In the analysis, panel data of 63 countries were chosen randomly from each continent from 1981 to 2010. This study also included other variables that impact economic growth, including inflation rate, unemployment rate, Foreign Direct Investment, total export, and capital formation. The study revealed a significant positive correlation between public spending on education and economic development

Business · Econometrics · Economic growth · Economics · Government (linguistics · Government Expenditure · Macroeconomics · Panel data · Public economics · Public finance · Economic Growth and Productivity · Energy, Environment, Economic Growth · Fiscal Policy and Economic Growth

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Open DOIOpen Access