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Study Regarding The Efficiency Of Public Spending On Education At Eu Level Through Benchmarking

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  • Diana Mihaiu

    (Lucian Blaga Unversity of Sibiu)

Abstract

The objective of this paper is to review the efficiency of public expenditure for education in Romania compared to other EU countries, and to the EU average. Thus we proceeded to a benchmarking analysis. In order to perform an analysis of public spending efficiency for education by benchmarking at the EU level, representative indicators must be chosen in order to quantify the volume of efforts and effects. The effort of education was represented by public expenditure on education as percentage of GDP, and the effects took the form of a composite indicator consisting of 19 sub-indicators. If the public sector effort was relatively easy to quantify, the effects involve a deeper analysis and determine the limitations of this study. The conclusion is that either the level of funding in Romania is oversized compared to its effects, or resources were not used properly in accordance with the principles of performance.It would be foolhardy to suggest increased funding for education, when the analysis carried out shows that the volume of financing is not the problem, but towards the use of funds.

Suggested Citation

  • Diana Mihaiu, 2010. "Study Regarding The Efficiency Of Public Spending On Education At Eu Level Through Benchmarking," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 5(3), pages 201-214, December.
  • Handle: RePEc:blg:journl:v:5:y:2010:i:3:p:201-214
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    File URL: http://eccsf.ulbsibiu.ro/RePEc/blg/journl/5312mihaiu.pdf
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    References listed on IDEAS

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    1. António Afonso & Ludger Schuknecht & Vito Tanzi, 2010. "Income distribution determinants and public spending efficiency," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, pages 367-389.
    2. Klaus Adam & Albert Marcet & Juan Pablo Nicolini, 2016. "Stock Market Volatility and Learning," Journal of Finance, American Finance Association, vol. 71(1), pages 33-82, February.
    3. António Afonso & Ludger Schuknecht & Vito Tanzi, 2010. "Income distribution determinants and public spending efficiency," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, pages 367-389.
    4. Emmanuel Jimenez & Harry Anthony Patrinos, 2009. "Can Cost–Benefit Analysis Guide Education Policy in Developing Countries?," Chapters,in: Handbook of Research on Cost–Benefit Analysis, chapter 4 Edward Elgar Publishing.
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    Keywords

    public sector; education; efficiency; benchmarking;

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