The Funding of Education and The Country's Overall Economic Growth in Central Asia

Abstract

This study aims to provide the groundwork for further investigations into the relationship between educational expenditures and economic growth. This investigation lends credence to earlier conclusions about the amount of money spent by the federal government on education. Both the state governments and the federal government make financial contributions to education; nevertheless, the federal government's planned and operational expenditures employ their resources in a distinct manner. Since our country has had terrible rankings for a number of years and has never even cracked the top ten, one of the most crucial concerns about the money that the government spends on education is: where does it go? This indicates that not enough human capital (HC), which is beneficial to the economy, the people, and the environment, is developed via education expenditure (ECNG). Through the use of EduEx, the purpose of this study was to establish a connection between ECNG and government education funding. According to the findings of this study, EduEx variables at all three levels of education (primary, secondary, and postsecondary) reveal a distinct cointegration link (as shown in the estimated Models 1 and 2). The years 1993 through 2017 are covered in this list of facts. The projected VECM indicates that the benefits of EDuEx operations and development education spending on ECNG won't become obvious for quite some time. According to the findings of this research, ECNG is impacted by the percentage of Uzbeks who have completed postsecondary education. The majority of Uzbekistan's working population has at least a bachelor's degree. The percentage of the working population that has at least some secondary education is unusually high