IMPACT OF PUBLIC EDUCATIONAL SPENDING ON THE SCHOOLING OUTCOME

 IMPACT OF PUBLIC EDUCATIONAL SPENDING ON
THE SCHOOLING OUTCOME
Table
of contents
Abstract……………………………………………………………………………….……III
Acknowledgement…………………………………………………………….….…..……IV
Chapter one………………………………………………………………………………….
Introduction
1.1 Background of the study………………………………………..….…….
1.2 Statement of the problem……………………………………….…..……
1.3 Purpose and significance of
the study…………………………….………
1.4 Objective and Research
question of the study…………………..…………
1.5 Research Hypothesis……………………………………………………….
1.6 Scope and Limitations of
the study………………………….……..……..
1.7 Organization of the paper…………………………………….…..……….
. Chapter Two…………………………………………………………..……….………
Background and literature
review…………………………..………………..
The Role of Education in the
Early Classical Writings……………
Educational Investment and
Human capital………………………
Reasons for Government
Involvement in the Provision of Education…….
Public Expenditure Growth………………………………………………..
Trends of Government spending ………………………………………..…………
Growth and Composition of
government spending……………………
Public Expenditure On Pro-Poor…………………………………………
Chapter three
Methodology and Econometric
Modeling………………..……………
Model Specification……………………………………….……….
Estimation techniques………………………………………………………….
Chapter Four………………………………………………………………….……
Data Analysis and
interpretation of results…………………………..…….
Unit root test…………………………………………………………
Co-integration and error……………………………………………..
Chapter five…………………………………………………………………….
Summary, Conclusion and
Recommendation……………………………….….
Summary and conclusion………………………………………………..….
Recommendation……………………………………………………………
References………………………………………………………………………
Appendices………………………………………………………………….…..
CHAPTER ONE
INTRODUCTION
1.1 Background of the study
In
the mainstream economic literature, public education expenditures have been
recognized as a key aspect of fiscal outlays in most developing countries of
the world. The reasons put forward in defense of government involvement in
education financing are not far-fetched. Empirically, education and human
capital have been found to have a positive and significant effect on economic
growth (World Bank, 1980; Barro, 1998; Barro & Sala-i- Martin, 1995),
reduce fertility rates (Moock & Jamison, 1988), improve health and enhance
social and political participation (Hill & King, 1991).
According
to Sen (1999), education has both intrinsic and instrumental value. It is
desirable not only for the individual but also for the society as a whole.
Education as private good benefits directly those who receive it, which in turn
affects the individual’s future income stream. At the aggregate level, a better
educated workforce is thought to increase the stock of human capital in the
economy and increase its productivity. Considering the externalities prevalent
in education, it is widely accepted that the state has a key role to play in
ensuring equitable distribution of educational opportunities to the entire
population. This is particularly crucial in developing countries such as
Ethiopia that suffer from high levels of poverty, inequality and market
imperfections. Public intervention in education can lead to improvement in the
future stream of individuals, enabling equitable distribution of wealth and
help reduce poverty (Mukherjee, 2007).
Education being an important component of human capital has
always attracted the attention from economists, researchers and policy makers.
Governments are trying to improve Human capital by pumping more investments in
education. Education increases an individual’s earning potential, but also
produces a ‘ripple effect” throughout the economy by way of series of positive
externalities (Michaelowa, 2000). Educational expenditure constitutes a
significant share in government’s budgetary expenditures. Individual families
also set aside a good share of their private disposable income to school their
children, foregoing the productive contribution the children would have made to
family income had they not attended school. This is mainly
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