PUBLIC EXPENDITURE ON EDUCATION AND ECONOMIC DEVELOPMENT: A CONTINUOUS REGRESSION ANALYSIS
Keywords:
education expenditure, economic growth, human capital, spline regression, public budget, efficiency, institutional reforms.Abstract
This scientific article thoroughly examines the relationship between government expenditures on education and economic growth using continuous regression analysis. By applying spline regression models, the study empirically assesses the impact of public investments in education on economic development. The findings reveal that expenditures aimed at developing human capital contribute significantly to long-term economic stability. The paper also provides recommendations on determining optimal investment levels, emphasizes the role of institutional reforms, and discusses the importance of effective allocation of educational resources.
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