EDUCATION AND RELATED EXPENDITURES AS FORMS OF PUBLIC GOODS AND SERVICES: A COMPARISON OF TURKEY WITH OECD COUNTRIES

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In the current global world, education is the basis of human capital. Human capital is as important as physical capital for economic development and growth. As education is essential for individual and societal development, it also contributes to economic development and growth. These properties render education a semi-public service that should be offered by both public and private sectors. Due to positive effects of education on individuals and the society, many countries have directed their attention to education spending. This study investigates the education spending in Turkey and then make comparisons with Organisation for Economic Cooperation and Development (OECD) countries. The analysis shows that, despite the steady increase in expenditure on education during the last decade, total expenditure on education is extremely low compared to other OECD countries in terms of indicators like spending on educational institutions as a percentage of gross domestic product (GDP), spending on educational institutions as a percentage of total public expenditure, and the amount of annual educational spending per student, all of which provide solid criteria for a qualitative and quantitative evaluation of educational services.

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Education , Education Expenditures , Human Capital , Education as Semi , Public Goods

Celal Bayar University Journal Of Social Sciences

160

Celal Bayar University Journal Of Social Sciences