Criteria for Public Expenditure on Education

Abstract

One of the characteristic features of new nations is the co-existence of two separate economies alongside each other: a predominant peasant agricultural sector with very primitive technology alongside a small but modern industrial (or mining) sector using the most up-to-date techniques. Because of the low level of applied technology in the economy as a whole, economists have recently come to focus attention on the rôle of technical progress in the process of economic growth. New nations can share in the technical advance of the older countries through education and training. Consequently, policy makers in the developing countries attach great importance to manpower development as an engine of economic growth.