THE IMPACT OF THE GLOBAL CRISIS ON PUBLIC EXPENDITURE IN EDUCATION

Irina-Florentina Băjan, Alina Creţu and Elena Peptan
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Irina-Florentina Băjan: Bucharest Academy of Economic Studies
Alina Creţu: Bucharest Academy of Economic Studies
Elena Peptan: Bucharest Academy of Economic Studies

Theoretical and Applied Economics, 2009, vol. 12(541)(supplement), issue 12(541)(supplement), 174-178

Abstract: After eight years of growth in developed countries, the current financial and economic crisis brought significant change in the economic landscape. The growth rate fell dramatically all over the globe, with direct implications on public finance. Although, at the moment, we can not clearly estimate the impact of the economic crisis on public expenditure in education, the available data reveal that the educational sector was severely influenced by the global downturn. The present paper analyzes the current state of Romanian education and makes some suggestions on improving the impact of the crisis, taking in considerations lessons we learnt from previous economic crises.

Keywords: global crisis; public expenditure; education; public intervention; Romanian education. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:174-178

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