24 Sep 2015
Institute of Economic Sciences (IEN); In: Economic Analysis 2015, Vol.48, No.1-2, pp.19-38; Author: Tomić Zoran
Knowledge is one of the key factors for the development and progress of each of the world economies. Starting with the industrial revolution, more attention and resources are invested in the development of the education system.
This paper presents a comparative analysis of investment funds in the education systems of the European Union and BRICS, and it is shown that there is a positive correlation between public expenditure on education and the value of GDP of the country.