The impact of public spending for education on sustainable economic growth in Asian countries

Abstract

This chapter focuses on the impact of public spending on education on sustainable economic growth. For this objective, the research analyzes the response function of the panel data analysis method with the Pool OLS model, FEM, and REM, gathering data from six Asian countries in the period from 2010 to 2016. The results show that public spending for education, labor, and globalization index has a positive impact on sustainable economic growth; private investment has an opposite effect; while health spending variables, inflation, and savings are not statistically significant.