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Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] The European Journal of Comparative Economics (EJCE) [ISSN:] 1824-2979 [Volume:] 19 [Issue:] 1 [Year:] 2022 [Pages:] 79-101
Verlag: 
University Carlo Cattaneo (LIUC), Castellanza
Zusammenfassung: 
The aim of this contribution is to evaluate the efficiency of the Czech educational system. If we take into account the fact that investments are made in consideration of future returns, then it holds true that investments in the form of public finances invested in the education system are implemented with an eye to future returns, in particular in terms of future growth in economic performance. Based on the time series of the development of government expenditure on education, and with regard to the differentiation of this sector into primary, secondary, and tertiary education, this article evaluates the relationship of the government expenditures to the development of the gross domestic product for the Czech Republic in the period 1992-2015. A regression analysis method is used, modified by the ARIMA model and the time lags assumed for the relationship of these two variables. A relationship between growth in government expenditure on secondary education and subsequent growth in GDP has been demonstrated. According to the results, a time lag of 6 years can be expected between these occurrences.
Schlagwörter: 
Czech Republic
Economic growth
Education
Government expenditures
Human capital
JEL: 
C12
D61
E62
H41
H52
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