Educational economics plays a role in every life and many investments are made to achieve the current standard of publicly provided education. Governments devote a significant amount of their total expenditure on education, culture and educational science. In the Netherlands for instance the government in 2017 budgeted 33,8 billion for education, science and culture. This amount is about 12.8 percent of the total budgeted government expenditures of that year. (Rijksoverheid, Ministerie van Financien, 2016) Additionally a proportion of budgeted money is allocated to invest in developing countries of which again a significant amount will end up in the educational sector. When looking further afield we see that all governments have assigned a significant amount of their total expenditures to education. In European counties it’s between 10 and 15 percent of the total expenditures, while in developing counties there is greater variability with expenditures on education between 5 and 28 percent of GDP. Globally the most recent data shows that in 2013 education accounted for 14.1 percent of the total governmental expenditure. (World Bank Group, 2017)

61721oma
hdl.handle.net/2105/39123
Business Economics
Erasmus School of Economics

Schippers, A. (2017, September 6). Governmental investments in education and their returns in gross domestic product. Business Economics. Retrieved from http://hdl.handle.net/2105/39123