Description
Title: Evidence from Indonesia in an Empirical Analysis of Public Expenditure for Education and Economic Growth
Abstract: In light of the government’s decision to allocate 20% of the state budget to education, the goal of this paper is to determine the relationship between public spending in the educational sector and Indonesia’s economic growth. In order to measure the Cobb-Douglas production function, we used time series data from 1988 to 2018. To determine the relationship between the variables, we used Autoregressive Distributed Lag bound tests in the methodology. The findings demonstrate that there is little correlation between public spending on education in the long and short terms. Although they both move in different directions, their relationship is positive over the long term and negative over the short term. However, the relationship between the labor variable and gross fixed capital formation is both short- and long-term negative. In light of the link between education spending and economic growth, the Indonesian government should oversee the country’s educational system.
Keywords: public expenditure; education; economic growth
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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