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The relationship between public education expenditure and economic growth: The case of India

Sayantan Ghosh Dastidar, Sushil Mohan () and Monojit Chatterji

No 273, Dundee Discussion Papers in Economics from Economic Studies, University of Dundee

Abstract: The paper reviews the theoretical and the empirical case for public investment in education in India. Though the theoretical literature provides a backing for such a policy, the empirical literature fails to find a robust relation between education expenditure and growth. Expenditure on education is a necessary but not a sufficient condition for growth. It seems that the effectiveness of education expenditure depends on the institutional and labour market characteristics of the economy. The effectiveness of education investments also depends on other factors such as trade openness. Due to these aforesaid factors, we argue that the empirical relation between education expenditure and growth for India has been inconsistent.

Keywords: Public education expenditure; economic growth; trade openness; India (search for similar items in EconPapers)
JEL-codes: E60 E62 H52 I25 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2012-12
New Economics Papers: this item is included in nep-cwa, nep-edu, nep-fdg and nep-mac
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Working Paper: The relationship between public education expenditure and economic growth: The case of India (2013) Downloads
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