Details
- Publication date
- 16 September 2019
- Author
- European Expert Network on Economics of Education (EENEE)
- Geographical scope
- European Union
- Level of education focus
- Early childhood education and care (ECEC)
- Higher education
- School education
- Thematic areas covered
- Educational attainment and participation in education
- Educational effectiveness and efficiency
- Investment in education, economic impact of education
- Quality and inclusive education for all
- Skills development
- Teachers and trainers
Description
This literature review evaluates the returns on public investment in education across different stages and contexts. It finds that returns tend to be highest for early childhood and preschool education, with diminishing returns at higher education levels. Quality investments, such as in teacher training and pay, significantly improve student outcomes, particularly in developing countries.
Class size reductions generally show positive effects but are often cost-ineffective. Investments in digital technologies and new learning materials have limited or no proven impact on student outcomes. Educational investments also positively influence broader societal indicators like health, civic behavior, and poverty reduction.
The study highlights the importance of tailoring education policy to a country’s development stage and focusing on evidence-based, long-term strategies.
Author
Paweł Bukowski
Cite as
Paweł Bukowski (2019). 'Returns on Investment in Education (literature review)', EENEE Ad hoc Report 1, 2019
