The question of whether economic globalization promotes or depresses governments' education spending has attracted social scientists' attention for decades. Existing literature presents an interesting contrast between two theoretical scenarios, namely race to the top and race to the bottom. This paper attempts to adapt the debate to the…

The purpose of this paper is to explore the relationship between the percentage of expenditure on public education of a country and the effect that each percentage mark has on the economic growth, and therefore Gross Domestic Product (GDP) of a country. The goal of this paper is to explore how investment in education impacts the economic growth of…

This study explores the relative impact of human capital formation on economic growth in Nigeria from 1981 to 2014 using time series data of thirty four (34) years. The empirical analysis begins with an investigation of the stationarity of the variables specified under the model specification. Upon which the study used the ARDL bound estimation…

The Government of Kenya spends 30% of its budget on education. It is commonly assumed that education has an important positive effect on economic growth, but to date the evidence for this assumption has been surprisingly weak. This study aimed at exploring the relationships between the amount of investments in education and economic growth. It was…

Purpose: The purpose of this paper is to study the factors which facilitate the increase of effectiveness of university education and determination of perspectives of their management for provision of maximization of effectiveness of university education by the example of modern Russia. Design/methodology/approach: The authors define the notion…

Growing emphasis has been placed on universities to contribute to the innovation process and as a result academic research and development expenditures have increased in recent years. Nevertheless, little is known about the specific ways in which universities have expanded their research capacity. This paper examines how universities in the United…

Does the government control of school systems facilitate equality in school quality? Whether centralized or localized control produces more equality depends not only on what "could" happen in principle, but also on what does happen in practice. We use the Programme for International Student Assessment (PISA) database to examine the…

Since the 2008-2009 academic year, community colleges in the state of California have faced a budget reduction of 12%. This represents a reduction of $809 million in state appropriations. Despite the reduction in funding, the California Master Plan for Higher Education includes provisions for community colleges to develop quality workforce…

This paper challenges Hanushek and Woessmann's (2008) contention that the quality and not the quantity of schooling determines a nation's rate of economic growth. I first show that their statistical analysis is flawed. I then show that when a nation's average test scores and average schooling attainment are included in a national income model,…

A proportion of employees are overqualified for their work. This generates a wage premium relative to the job but a penalty relative to the qualification, and is therefore, a puzzle for human capital theory. A part of this derives from the use of measures of time spent in education for the calculation of overqualification. Analysing data from four…

We decompose annual average years of schooling series for Portugal into different schooling levels series. By estimating a number of vector autoregressions, we provide measures of aggregate and disaggregate economic growth impacts of different education levels. Increasing education at all levels except tertiary has a positive and significant…

Purpose: The purpose of this study is to further develop an emerging thread of quantitative research that grounds investment in school infrastructure in a unified theoretical framework of investment in human, social, and physical capital. Design/methodology/approach: To answer the research question, what is the impact of investment in human,…

Despite significant increases in spending on child care and education during the last decade, PISA scores suggest that educational performance remains static, uneven and strongly related to parents' income and background. Better educational performance could improve labour market outcomes, raise growth, lower the consequences of a disadvantaged…

One of the ultimate goals of policy makers is to enable citizens to take advantage of a globalised world economy. This is leading them to focus on the improvement of education policies, ensuring the quality of service provision, a more equitable distribution of learning opportunities and stronger incentives for greater efficiency in schooling.…