Public Expenditure on Education: A Review of Selected Issues and Evidence

摘要: The role of education in economic development has been recognised for quite some time mainstream literature. Divergence between the private and social rate return from is rationale intervention by state ensuring equity opportunity across population. so-called ‘New Growth Theories’ predict that higher levels schooling better quality workforce will lead to an increase growth, further strengthening case public expenditure on education. outcome these lines research also implications financing However,the effectiveness efficiency resource allocation government generated considerable debate, both ideological technical points view. It widely acknowledged there a large scope improvement level, publicly-funded New institutional arrangements are being designed address deficiencies incentives monitoring, thereby improving quality.