Analysis of the Determinants of Public Education Expenditures in the Philippines

This study examines the values, trends, and variables that determine the public education expenditures of the Philippines from 1990 to 2019. The researchers used the following variables: Public Education, Culture, and Manpower Development Expenditure in Millions, Tax Revenue in % share GDP, Total Population in Millions, and Real Gross Domestic Product Per Capita, to pave the way for a coherent understanding of the determinants of public education expenditure and theories used to build up this economic construct. The study utilized a multivariate Ordinary Least Squares regression analysis needed for the variables, along with statistical measures to assess the significance of the model. Which includes the following: the values of the t-test and f-stat in their respective p valued forms for the significance of the economic model, tests for serial correlation through the Durbin-Watson test and Breusch-Godfrey test, a test for multicollinearity through Variance Inflation Factor, a test for heteroscedasticity through Goldfeld-Quandt test and White's Heteroscedasticity test, testing for specification errors will be done through Ramsey's RESET test, and test for normality will be through a graphical method Histogram. The key findings of this study suggest that the variables; economic growth, tax, and population growth show signs of positive relationship and negation with the dependent variable education expenditure.