IMPACT OF EDUCATIONAL EXPENDITURE ON ECONOMIC GROWTH IN ASIAN COUNTRIES

Abstract

This study investigates the impact of educational expenditure on the economic growth of 10 Asian countries. Drawing on comprehensive data collected from the World Bank spanning the period of 2017 to 2021, the study employs rigorous econometric analysis to examine the relationship between educational expenditure and key economic growth indicators. By employing various statistical techniques and controlling for potential confounding variables, the study reveals a positive and significant relationship between educational expenditure and economic growth in the Asian context. The findings highlight that increased investment in education, as reflected by higher educational expenditure, is associated with enhanced economic growth outcomes. The positive relationship suggests that countries that allocate a higher proportion of their resources to education experience greater economic development and productivity gains. The inclusion of data from multiple Asian countries provides a comprehensive perspective, capturing the heterogeneity across educational systems, policy frameworks, and socioeconomic conditions. The robustness of the analysis is strengthened by the extensive data set collected from the World Bank, which ensures the reliability and comparability of the findings.