Abstract
The aim of this chapter is to determine the relation between the amount of government expenditure on education and development of the basic macroeconomic indicators of GDP and public debt using EU countries data relating to times of economic and debt crisis. This paper is a combination of theoretical knowledge with practical examples. Theoretical area includes mainly the definition of fiscal policy, its application in the European Union as well as the economic background characteristic of the factors examined during times of crisis. The analysis of examined variables is based on both comparative and correlation method, and the results are further processed using cluster analysis and linear regression to predict the future values of the amount of government expenditure on education. The results of work will help the reader better understand the relation between the amount of government expenditure on education and development of the economy in times of crisis. People interested in the subject will be enriched by an explanation of how to effectively predict future changes in the amount of government expenditure on education.
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Notes
- 1.
Note PPP index (Purchasing Power Parity index)—represents the rates of currency conversion that eliminate the differences in price levels between countries.
- 2.
Note Due to a significant difference between the highest amount of GDP reported in Luxembourg and the amount of GDP in other EU member countries there would be created only 2 clusters in the case of the automatic choice of cluster number instead of fixed number of clusters.
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Holubjaková, D., Bohdalová, M. (2018). Capturing and Analyzing Information on Fiscal Policy of EU Countries. In: Kryvinska, N., Gregus, M. (eds) Agile Information Business. Flexible Systems Management. Springer, Singapore. https://doi.org/10.1007/978-981-10-3358-2_1
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