교육비 지원 정책의 인적자본 형성 및 경제성장 촉진 효과 - OECD 국가 사례분석 -

초록

This study empirically examined the effects of human capital formation achieved by the expansion of the government s investment in tertiary education during 1998-2013, on the economic growth of OECD countries, using two stage Least Square(2SLS). The findings indicate that enrollment and attainment rates, the proxy variables of human capital in this study, promote the economic growth in OECD countries. This suggests that education subsidy policy plays an important role. The analysis of public expenditure on education as a percentage of GDP, public expenditure, expenditure on institutions and students, reveals that education subsidy improves tertiary education enrollment and attainment rates. It is notable that the way of subsidizing influences human capital and economic growth differently. In other words, expenditure on institutes promotes economic growth through tertiary education enrollment rate, and expectation on students promotes economic growth through attainment rate. This suggests that both the direct subsidy to educational institutions and the financial support to students promoted economic growth, but through different channels: the former increased expectations for better teaching staff provision and education environment, and reduced published tuition fee, leading to higher enrollment rates, while the latter such as student loans and scholarships contributed to school continuation, resulting in higher educational attainment rates. These findings can provide an empirical basis for government directions and decisions.

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